You are at a party and for one moment you look away from your drink, someone must have mixed in something. Here's pretty much the result.
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Why To Apply For 80G & 12A Registration
NGO can avail income tax exemption by getting itself registered and fulfilling certain other formalities, but such registration does not provide any benefit to the person making donations.
To provide income Tax benefits to the “donors”, all NGO’s must apply for 80G & 12A certification. If an NGO gets itself registered under section 80G & 12A then the person or the organization making a donation to the NGO will get a deduction of 50% of donation amount from taxable income.
An NGO is applicable for government funding only, if it is registered under 80G & 12A.
A newly registered NGO can also apply for 80G & 12AG registration.
NGO does not have to pay tax for the entire lifetime if it gets registered under section 80G & 12A.
An NGO can apply for 12A certification and 80G certifications just after the registration of an NGO.
Decision: - Is an 80G certification required for your NGO to attract more donors.
Benefits of 80G Certificate & 12A Certificate:-
Tax Benefits: - NGO can avail income tax exemption by getting 80G certificate
Attract Donors: - If an NGO gets itself registered under section 80G & 12A then the person or the organization making a donation to the NGO will get a deduction of 50% of donation amount from taxable income
Life time tax exemption: - NGO do not have to pay tax for the entire lifetime if it gets registered under section 12A
Government Funding: - An NGO is applicable for government funding, if it is registered under 80G & 12A
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When your man is mute and does not understand the obvious hints
Always remember that the love in your heart will last forever, but the other things which surround you will leave you one day and then only one thing will be left i.e. "love in your heart".
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