12A Registration In Patna
We are one of the best consultant for 12A registration in Patna. NGo, Trust, Society, and Section 8 Company enjoys exemption below 12A Registration from tax on their surplus income more than expenditure. 12A Section of Income tax gives exemption to non profit earning organisation upon excess pension earned beyond their expenditure. Non Governmental Organisation does social welfare activites, thus supervision grants them sure benefits. 12A Registration is one of them. Any NGO involved for non profit can make application for getting allowance tax exemption by making an application under 12A section of Income Tax Act, 1961.
12A Registration is one become old exemption give to NGOs from payment of pension tax on surplus income. By surplus income, we mean whatever is left on zenith of after meeting whatever expenses. Many of us are aware, government has solution some help to NGOs. And 12A exemption is one of them. A NGO can apply for getting 12A registration just after its incorporation/registration.
New Registration (As amended by Finance Act, 2020)
An application for lighthearted registration below section 12A will be solution to Principal Commissioner or Commissioner, as per provisions of section 12AB. A provisional registration for 3 years will be unmovable to organization. The registration later than granted shall be genuine for 3 years from the Assessment Year from which the registration is sought. Application for renewal of such supplementary registration needs to be submitted
– at least six months prior to the expiry of validity period or
– within 6 months from establishment if activities,
whichever is earlier.
The provisional registration suitably granted shall be legitimate for a period of 3 years and hence needs to be renewed at the grow less of the above mentioned timelines. The registration correspondingly renewed shall be genuine only for 5 years and needs to be renewed at the stop of each 5 years.
Important Note: In cases of further registration, application shall be submitted, at least one month prior to the opening of the previous year relevant to the assessment year for which registration is sought, meaning thereby extra NGO will not be entitled to have the benefit of registration of section 12AB in the first year of operation.
Documents required for 12A Registration in Patna:
- Certified copy of Trust deed, Registration Certificate, Bye Laws of NGO
- Self Attested copy of Pan Card and Aadhaar Card of Members of NGO
- Certified copy of annual reports of NGO of last 2 years
- Certified copy of Income tax recompense of NGO of last 2 years
- Copy of Electricity Bill and Rent Agreement of office
- Photograph of Office Building
Process to get 12A Registration:
- Application has to be made alongwith all documents
- Challan has to be paid
- After response of documents, on premise inspection is made
- After inspection, interview of members of NGO is conducted
- On sucessful interview, 12A registration certify is issued`
New Registration (As altered by Finance Act, 2020)
An application for further registration under segment 12A will be unchangeable to Principal Commissioner or Commissioner, according to arrangements of area 12AB. A interim enlistment for a categorically long era will be truth to associations. The enlistment following conceded will be genuine for a long times from the Assessment Year from which the enrollment is looked for. Application for reestablishment of such extra enrollment should be submitted
– something following a half year preceding the expiry of legitimacy get older or
– inside a half year from commencement if exercises,
whichever is prior.
The drama enlistment therefore conceded will be true for a time of 3 years and so should be recharged toward the finish of the before mentioned courses of events. The enlistment thus restored will be legitimate just for a categorically long mature and should be recharged toward the finish of all 5 years.
Significant Note: In instances of extra enlistment, application will be submitted, something gone one month since the coming on of the earlier year pertinent to the appraisal year for which enrollment is looked for, which means in this way further NGO won’t be ascribed for have the advantage of enrollment of segment 12AB in the principal year of activity.
Migration of existing enrollments (As corrected by Finance Act, 2020)
All enrolled NGOs are needed to apply for re-approval in Form No. 10A, inside 90 days from first April 2021. Enlistment for that reason re-approved will be genuine just for a unquestionably long time. The application for the recharging of enlistment (following five years) should be submitted going on for a half year preceding the expiry of legitimacy period. The restoration application will be submitted in the Form No. 10AB.
Prior enlistment below 12A was fixed as gone enrollment and when the enlistment is conceded it will hold great till crossing out. From first April 2021, all additional enrollment will be allowed for a no question long time in particular and relationship needs to apply for recharging after every 5 years.