Patnaconsultant provides 80G registration in Patna Bihar. 80G Registration means registration of NGO under section 80G of Income Tax Act, 1963. 80G Registration gives donor of NGO exemption from payment of tax on the amount donated to NGO. They do not have to pay Income Tax. An application for 80G registration has to be made only when NGO has got registration under section 12A of Income tax act.
80G exemption is one time exemption benefits available to NGO. It provides benefits to the donor of the NGO. The donor gets tax exemption in his or her amount of income.
What are benefits of 80G Registration?
- The donor avails exemption/deduction from its taxable income
- It attracts donors to make donation to NGO
When application for 80G registration can be made?
- Application for getting 80G Registration can be made after getting registration under 12A registration
- Application for getting 12A registration can be made just after registration of NGO
ELIGIBILITY for 80G Registration
- Charitable trust, religious trusts, societies and section 8 companies are eligible
- Private or family trust or NGO are not eligible
Process of getting 80G Registration
- NGO has to make application to commissioner of Income tax along with all required documents
- On receipt of documents, the commissioner may ask for additional set of documents
- On satisfaction of all information mentioned in application, the commissioner will pass an order in writing registering NGO under section 80G of Income Tax act, 1963.
- The registration process may take time upto 3 to 4 months.