NGO

7 Things NGOs Should Consider When Filing Statements of Donations in Form 10BD

Income Tax - NGOs that have been approved by the Principal Commissioner or Commissioner of Income Tax under Section 80G must electronically file a statement of donations in Form 10BD on the income tax department’s e-filing portal. The statement of donations in Form 10BD must be filed on or before May 31 of the financial year immediately following [&...

Compliance for NGOs in India

Income Tax - Preface The word NGO (Non-Government Organization) in India refers to a body that remains detached from the Government and profit framework of usual businesses. These bodies work towards the broad advancement of the society and operate as small units which fill the gaps at places where the government cannot reach directly and efficiently....

Types of NGO Incorporation in India

Income Tax - They can be Non-Government organizations or Non-Profit Organizations. Both NPO and NGOs function to benefit society and the welfare of humans or improve the world. A Non-Profit Organization is formed to provide goods and services to the people and also operates on the principle that no member will share the profits or the losses. A [&hell...

Mandatory Registrations for NGO |Society |Trust

Income Tax - As we all know, in India, lakhs of NGO’s are registered to do social welfare activities. An NGO can be registered in the form of Trust, Society and Section 8 Company with Ministry of Corporate Affairs. Each year thousands of new NGO’s are registered but due to unawareness of activities/ proceedings to be done after […]...

GST on NGO and charitable Trust

Income Tax - The GST has impacted the industry as well as the nonprofit entity. The GST is not totally exempt on these entities but there are few special exemption provided to these entities as discussed. The rest all activities are chargeable to GST if they are not covered in other exemption entry or are not considered as […]...

Drastic changes in FCRA & rules relating to Charitable Trusts/NGOs causing undue hardship

Income Tax - Mumbai BJP Professional Cell has written a letter to Shri Amit Shah Ji and requested to lookint0 Drastic changes made in FCRA and related rules relating to Charitable and Religious Trusts (Trusts/NGOs) are  not proper and causing undue hardship to NGOs. Mumbai BJP Professional Cell Dated- 29th May, 2021 To, Shri Amit Shah Ji, Honorable [...

NGOs urges Fin Min to continue tax exemptions for them in DTC

Income Tax - An NGO has urged Finance Minister Pranab Mukherjee to continue tax exemption for them in the proposed Direct Taxes Code in order to encourage non-profit organisations to undertake welfare activities. "Taxes will put a constraint resource generation of charitable bodies and reduce their ability to undertake welfare activities," Tax Payers ...

FM holds Pre Budget Consultations with Different Non Governmental Organisations

Income Tax - Union Finance Minister Shri Pranab Mukherjee held a meeting with different Non Governmental Organizations (NGOs) to get their inputs for General Budget 2011-12, here today. This was the fourth meeting in the series of pre-Budget consultations held by...

Government set to frame new accounting norms for non-governmental organisations (NGOs)

Income Tax - The government is set to frame new accounting norms for non-governmental organisations (NGOs), as it looks to remove the veil over the flow and utilisation of funds by the sector that is not entirely above suspicion. The ministry of corporate affairs...

Registration of Voluntary Organizations and NGOs for assistance under Investor Education and Protection Fund

Income Tax - The Ministry of Corporate Affairs has established the Investor Education and Protection Fund under Section 205C of the Companies Act, 1956 to undertake various activities for creating awareness amongst the investors. The Ministry invites credible vol...

Exemption to Trust U/s. 11 of Income Tax Act can not be denied if Payment made to concerns covered U/s. 13(3) not excessive

DDIT(E)- II Vs. M/s. Rock Church Ministries (ITAT Hyderabad) - DDIT(E)-II Vs. M/s. Rock Church Ministries (ITAT Hyderabad ) The purpose of section 13(1)(c) is to deprive a religious or charitable trust from exemption if it is found that its income is used or applied, directly or indirectly, for the benefit of the specified persons. Section 13(1)(c) carves out a...

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Recent Posts in "NGO"

7 Things NGOs Should Consider When Filing Statements of Donations in Form 10BD

NGOs that have been approved by the Principal Commissioner or Commissioner of Income Tax under Section 80G must electronically file a statement of donations in Form 10BD on the income tax department’s e-filing portal. The statement of donations in Form 10BD must be filed on or before May 31 of the financial year immediately following [&...

Posted Under: Income Tax |

Compliance for NGOs in India

Preface The word NGO (Non-Government Organization) in India refers to a body that remains detached from the Government and profit framework of usual businesses. These bodies work towards the broad advancement of the society and operate as small units which fill the gaps at places where the government cannot reach directly and efficiently....

Posted Under: Income Tax |

Types of NGO Incorporation in India

They can be Non-Government organizations or Non-Profit Organizations. Both NPO and NGOs function to benefit society and the welfare of humans or improve the world. A Non-Profit Organization is formed to provide goods and services to the people and also operates on the principle that no member will share the profits or the losses. A [&hell...

Posted Under: Income Tax |

Mandatory Registrations for NGO |Society |Trust

As we all know, in India, lakhs of NGO’s are registered to do social welfare activities. An NGO can be registered in the form of Trust, Society and Section 8 Company with Ministry of Corporate Affairs. Each year thousands of new NGO’s are registered but due to unawareness of activities/ proceedings to be done after […]...

Posted Under: Income Tax |

GST on NGO and charitable Trust

The GST has impacted the industry as well as the nonprofit entity. The GST is not totally exempt on these entities but there are few special exemption provided to these entities as discussed. The rest all activities are chargeable to GST if they are not covered in other exemption entry or are not considered as […]...

Posted Under: Income Tax |

How a NGO can Increase the Chances of it’s Success with CSR Funding

How a Non-Governmental Organization (NGO) can Increase the Chances of it’s Success with CSR Funding Many NGOs are working at the grassroots level to provide actual benefits to society, but only a small percentage of them are able to obtain CSR funds. The fact that NGOs are unable to adequately present their projects and what [&helli...

Posted Under: Income Tax |

Ways NGOs can get CSR Funds for their Projects

Despite the growth and popularity of CSR in recent years, CSR programs and CSR efforts have not been able to have the desired impact on the country’s backward areas as they have been limited by financial challenges faced in reaching out to corporates to showcase what they’re doing. A number of NGOs and other non-profit […]...

Posted Under: Income Tax |

FCRA Registration- All you need to know before getting Foreign Funds for NGO in India

There are enormous reasons for the current global platform to get focused on the environment, social and cultural causes. Not only the specific organizations but also the businesses apart from having profit earning as their prime goal, are getting themselves involved in activities that promote economic, social, cultural and environmental ...

Posted Under: Income Tax |

How To Have Your Start Up (NGO’s)

HOW TO HAVE YOUR START-UP Important steps to get started 1. Check the feasibility of your idea. 2. Have your business plan ready. 3. Choose the right business structure. 4. Look for funds. 5. Register in Government Schemes 6. Intellectual properties such as Trademark and Patents 7. Build a good digital presence. I 8. Get […]...

Posted Under: Income Tax |

Form 10AB | Final Registration Under Section 80G of Income Tax Act for NGO

Dear friends, as we all know from 01.04.2021, there has been drastic change made in registration process of NGO, which wants to get registered under Section 80G of Income Tax Act, 1961. In earlier process before 31.03.2021, NGO has to registered once under Section 80G of Income Tax Act and the registration is valid for […]...

Posted Under: Income Tax |

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