NGOs have a significant role to play alongside Government in improving the status of society by taking up moral and social responsibilities. Even the Government understands that this social challenge is big and hence to grant income tax benefit, registration under section 12A and 80G was granted. Also such registration helps government monitor the use of funds by NGOs. The NGOs are supervised and they have to make sure the money is used appropriately and for the upliftment of society.
12A registration exempts the income of NGOs under Income Tax Act and 80G registration is for income tax exemption benefit of donors.
|NGO income is exempted under Income Tax||Income tax deduction to donors|
|Easy grants from Government and public||Motivates public to donate|
but it specifically excludes
Application for 12A and 80G needs to be made with Commissioner of Income Tax along with following documents
© 2018 Business Escalators. All rights reserved | Powered by Creador Designs.