12A Registration In Rajeev Nagar
We are one of the best consultant for 12A registration in Rajeev Nagar. NGo, Trust, Society, and Section 8 Company enjoys exemption under 12A Registration from tax on their surplus income over expenditure. 12A Section of Income tax gives exemption to non profit earning organisation on excess pension earned greater than their expenditure. Non Governmental Organisation does social welfare activites, thus dispensation grants them clear benefits. 12A Registration is one of them. Any NGO full of zip for non profit can make application for getting income tax exemption by making an application below 12A section of Income Tax Act, 1961.
12A Registration is one become old exemption have enough money to NGOs from payment of pension tax upon surplus income. By surplus income, we mean whatever is left more than after meeting anything expenses. Many of us are aware, government has unadulterated some relief 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 open registration under section 12A will be unadulterated to Principal Commissioner or Commissioner, as per provisions of section 12AB. A provisional registration for 3 years will be resolved to organization. The registration subsequently granted shall be legitimate for 3 years from the Assessment Year from which the registration is sought. Application for renewal of such further registration needs to be submitted
– at least six months prior to the expiry of validity time or
– within 6 months from initiation if activities,
whichever is earlier.
The provisional registration so granted shall be authentic for a mature of 3 years and hence needs to be renewed at the terminate of the above mentioned timelines. The registration correspondingly renewed shall be authentic only for 5 years and needs to be renewed at the stop of each 5 years.
Important Note: In cases of additional registration, application shall be submitted, at least one month prior to the establishment of the previous year relevant to the assessment year for which registration is sought, meaning thereby new 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 Rajeev Nagar:
- 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 return 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 reaction 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 solution to Principal Commissioner or Commissioner, according to arrangements of area 12AB. A stand-in enlistment for a totally long grow old will be final to associations. The enlistment similar to conceded will be real for a long grow old from the Assessment Year from which the enrollment is looked for. Application for reestablishment of such extra enrollment should be submitted
– something like a half year preceding the expiry of legitimacy grow old or
– inside a half year from inauguration if exercises,
whichever is prior.
The performing arts enlistment correspondingly conceded will be authenticated for a times of 3 years and so should be recharged toward the finish of the before mentioned courses of events. The enlistment correspondingly restored will be valid just for a enormously long times and should be recharged toward the finish of all 5 years.
Significant Note: In instances of additional enlistment, application will be submitted, something in the same way as one month before the beginning of the earlier year pertinent to the appraisal year for which enrollment is looked for, which means in this way other 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 in view of that re-approved will be true just for a extremely long time. The application for the recharging of enlistment (following five years) should be submitted in explanation to a half year preceding the expiry of legitimacy period. The restoration application will be submitted in the Form No. 10AB.
Prior enlistment under 12A was unmovable as taking into account enrollment and subsequently the enlistment is conceded it will hold good till crossing out. From first April 2021, all additional enrollment will be allowed for a extremely long epoch in particular and link needs to apply for recharging after every 5 years.