12A & 80G Registration
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12A & 80G Registration Services
The 12A and 80G registrations are related to tax exemptions available to non-profit organizations in India, such as NGOs, charitable trusts, and societies. Here’s what each registration entails:
12A Registration: This registration is under the Income Tax Act, 1961, and provides exemption to charitable trusts and institutions on their income, which means they don’t have to pay taxes on the income they earn.
80G Registration: This registration allows donors to claim a deduction for donations made to charitable institutions. Donors can claim a deduction of 50% or 100% of the donated amount, depending on the type of institution and the donor’s eligibility.
Having 12A and 80G registrations can significantly benefit non-profit organizations by attracting more donors and ensuring tax efficiency in their operations.
Benefits of 12A and 80G
The 12A and 80G registrations offer several benefits to non-profit organizations in India:
Tax Exemption: The 12A registration provides tax exemption to the organization on its income, ensuring that the funds received are utilized for the organization’s objectives without the burden of paying taxes.
Attracting Donors: The 80G registration allows donors to claim a deduction on donations made to the organization, making it more attractive for individuals and businesses to contribute to the organization’s cause.
Credibility and Trust: Having these registrations adds credibility to the organization, as it demonstrates compliance with regulatory requirements and transparency in its operations. This can help in building trust among donors, beneficiaries, and the general public.
Financial Sustainability: The tax benefits provided by these registrations can enhance the financial sustainability of the organization by reducing its tax liability and increasing its ability to raise funds for its activities.
Compliance with Legal Requirements: Obtaining these registrations ensures that the organization complies with the legal requirements under the Income Tax Act, 1961, and other relevant laws, which is essential for its continued operation and growth.
Overall, the 12A and 80G registrations play a crucial role in the financial sustainability, credibility, and effectiveness of non-profit organizations in India.
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