12A Registration In Patna City
We are one of the best consultant for 12A registration in Patna City. NGo, Trust, Society, and Section 8 Company enjoys exemption below 12A Registration from tax on their surplus income higher than expenditure. 12A Section of Income tax gives exemption to non profit earning organisation on excess allowance earned on top of their expenditure. Non Governmental Organisation does social welfare activites, thus management grants them certain benefits. 12A Registration is one of them. Any NGO on the go 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 period exemption offer to NGOs from payment of pension tax upon surplus income. By surplus income, we mean anything is left exceeding after meeting whatever expenses. Many of us are aware, government has pure some facilitate 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 roomy registration under section 12A will be pure to Principal Commissioner or Commissioner, as per provisions of section 12AB. A provisional registration for 3 years will be fixed to organization. The registration afterward granted shall be true for 3 years from the Assessment Year from which the registration is sought. Application for renewal of such other registration needs to be submitted
– at least six months prior to the expiry of validity get older or
– within 6 months from inauguration if activities,
whichever is earlier.
The provisional registration hence granted shall be true for a get older of 3 years and hence needs to be renewed at the halt of the above mentioned timelines. The registration in view of that renewed shall be authentic only for 5 years and needs to be renewed at the terminate of each 5 years.
Important Note: In cases of other registration, application shall be submitted, at least one month prior to the inauguration of the previous year relevant to the assessment year for which registration is sought, meaning thereby additional NGO will not be entitled to have the gain of registration of section 12AB in the first year of operation.
Documents required for 12A Registration in Patna City:
- 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 anything documents
- Challan has to be paid
- After tribute of documents, on premise inspection is made
- After inspection, interview of members of NGO is conducted
- On sucessful interview, 12A registration endorse is issued`
New Registration (As altered by Finance Act, 2020)
An application for further registration below segment 12A will be total to Principal Commissioner or Commissioner, according to arrangements of Place 12AB. A temporary enlistment for a no question long era will be fixed idea to associations. The enlistment behind conceded will be valid for a long era from the Assessment Year from which the enrollment is looked for. Application for reestablishment of such extra enrollment should be submitted
– something in the same way as a half year preceding the expiry of legitimacy become old or
– inside a half year from opening if exercises,
whichever is prior.
The the theater enlistment therefore conceded will be real for a period of 3 years and therefore should be recharged toward the finish of the since mentioned courses of events. The enlistment in view of that restored will be valid just for a certainly long period and should be recharged toward the finish of all 5 years.
Significant Note: In instances of additional enlistment, application will be submitted, something taking into consideration one month since the initiation of the earlier year pertinent to the appraisal year for which enrollment is looked for, which means in this way supplementary NGO won’t be attributed 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 correspondingly re-approved will be authenticated just for a no question 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 total as behind enrollment and similar to the enlistment is conceded it will hold good till crossing out. From first April 2021, all additional enrollment will be allowed for a unconditionally long grow old in particular and link needs to apply for recharging after every 5 years.