By registering for the 80G and 12A of the Income Tax Act, and NGO can get the advantage of Income Tax Exemption. The tax benefits are also enjoyed by donors who get certain deductions of up to 50% from taxable incomes. Any newly registered can apply for 80G and 12A registration.
Points to be noted:
• By filing a 12A registration NGO can seek an exemption certificate.
•The certification will be helpful in seeking government grants and raise funds from abroad. The 12A certification is a proof of your NGO’s existence.
•The 80G of the Income Tax Act can be filed after receiving registration under 12A.
•80G enables donors to get tax advantages on their income.
•Your NGO can avail funds from government when you are registered under both 12A and 80G.
•80G will help you to seek foreign contributions
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