The payment deposited in our following ICIC Bank Accounts and intimation given us our phone, SMS, email:-
Ac Name : Aditya Consultancy
Bank’s Name : ICICI Bank
Account No. : 186705500528
A/C Type : Current A/C
Branch : Nandanwan, Nagpur
IFSC Code : ICIC0001867
(Payment should be made by CASH / DD / Cheque in favour of Aditya Consultancy Payable at NAGPUR)
Income Tax Exemption Under section 12-A and 80-G of Income Tax Act 1961
What is section 12-A of Income Tax Act. ?
Income of an organization is exempted if NGO has 12-A registration. All income shall not be taxable after 12-A registration. This is one time registration.
What Is section 80-G of Income Tax Act. ?
If an organization has obtained certification under section 80-G of Income Tax Act then donors of that NGO can claim exemption from Income Tax. This is not one time registration. This needs to get renewed after validity period.
Q. When an organization can apply for registration under section 12A and BUG of Income Tax Act?
A. Application for registration under section 12A and 80G can be applied just after registration of the NGO.
Where to apply for registration under section 12A and 80G of Income Tax Act?
Application for registration under section 12A and 8OG can be applied to the Commissioner of Income-tax (Exemption) having jurisdiction over the institution.
Can both the applicatlons under section 12A and 80G of Income Tax Act be applied together?
Yes ! Both applications can be applied together or it can also be applied separately also. If some organization is willing to apply both applications separately, then application for registration u/s 12A will be applied first. Getting 12A registration is must for applying application for registration
u/s 80G of Income Tax Act.
Generally what is the timeline for getting registration under section 12A and 80G of Income Tax Act?
If application for registration under section 12A and 80G will be applied through NGO Factory, it should take 3 to 4 months.
What is the procedure for getting registration under section 12A and 80G of Income Tax Act?
Step-1: Dully filled-in application will be submitted to the exemption section of the lncome Tax Department.
Step-2: NGO will receive notice for clarifications from Income Tax Department in 2-3 months after applying.
Step-3: Reply of notice will be submitted by the consultant along with all relevant desired documents to the Income Tax Departments.
Step-4: Consultant will personally visit the Income Tax Departments to follow-up the case on behalf of the applicant organization.
Step-5: Exemption Certificates will be issued.
What is the validity period of the registration under section 12A and 80G of Income Tax Act?
12A registration : Lifetime validity
80G registration : 1 to 3 years validity
What application forms are being used for applying for registration under section 12A and 80G of Income Tax Act?
12A registration : Form 10A
80G registration: Form 10G (For New Application and Renewal both)
What are the conditions on Section 80G?
There are few conditions to be fulfilled under the section 80G:
What is Tax Exemption limit on donations?
There is a limit on how much money can be exempted from the Income Tax.
Documents reguired for registration u/s 12A AND 80G: