35AC Registration Consultant for NGO

35AC Registration for NGO

Ozg Registration, Approval & Licensing Consultant

Ozg Center, New Delhi & Mumbai, INDIA

The Income Tax Act has certain provisions which offer tax benefits to the "donors". All NGOs should avail the advantage of these provisions to attract potential donors. Section 35AC is one of such sections. If an NGO succeeds in getting 35AC approval for its projects then it stands a very good chance of mobilising funds from the corporate and the business sector. Business houses making contribution to such approved projects are allowed the benefits of deducting such contribution as expenditure.

Ozg Registration Consultant offer complete consulting and services regarding 35 AC Registration for NGO located in any part of India.

Consultation FEE: Please contact.

NATIONAL COMMITTEE

The Central Government has constituted a National Committee to identify projects and schemes to be notified under section 35AC, such committee normally consists of eminent persons. All NGOs are entitled to apply to the National Committee to get its projects or schemes approved.

WHERE THE APPLICATION IS TO BE MADE

The application for approval by the National Committee should be made to the Secretary, National Committee for Promotion of Social & Economic Welfare, Dept. of Revenue, Govt. of India, North Block, New Delhi – 110 001.

THE 35AC APPLICATION AND ITS ENCLOSURE

i) The application is to be made in 2 Sets, written either in Hindi or English.

ii) Details such as name, address and status of applicant, the district/ ward circle where assessed/PAN number.

iii) Audited Balance Sheet, Profit & Loss Account or Income & Expenditure Account for the latest year and two preceding years.

iv) How is it constituted i.e. whether as a trust, society, etc supported by relevant documents like trust deed, rules & regulation, memorandum of association etc. and registration certificate, if any.

v) Name & Addresses of the persons managing the affairs of the association or institution, including those who left the organisation but were managing the affairs of the association or institution during the 3 years preceding the date of application.

vi) If the association or institution is notified under section 10(23)(C) or is approved for the purposes of section 80G, the particulars of such approval granted.

vii) Brief particulars of the activities of the association or institution during 3 years preceding the date of application or since inception if the association or institution is less than 3 years old.

viii) Such other information as the association or institution may like to place before the National Committee.

ADDITIONAL INFORMATION REGARDING THE PROJECT TO BE SUBMITTED

(i) Title of project or scheme;

(ii) Date of commencement;

(iii) Duration and the likely date of completion;

(iv) Estimated cost of the project;

(v) Category or class of persons who are likely to be benefited from the project or scheme;

(vi) Affirmation that no benefit from the project or scheme other than remuneration or honorarium, will accrue to persons managing the affairs of the NGO;

(viii) Such other particulars as the applicant may place before the National Committee.

CERTIFICATE TO BE ISSUED TO THE DONOR

=> All approved NGOs are required to issue a certificate to the donor for all contributions & receipts under section 35AC. The certificate is to be issued in Form 58A.

=> This certificate will enable the donor to claim exemption from its taxable income. Further, the NGOs should also send an Annual Report to the National Committee indicating the progress of the work relating to the project/scheme and the following information in respect of each contributor:

i) name of the contributors & their addresses.

ii) PAN.

iii) amount of contributions.

iv) the project/scheme for which the contribution is made.

v) total amount of contribution received during the year.

vi) total cost of the project approved by the National Committee.

Such Annual Report should reach the National Committee by 30th June, following the financial year in which the amount is received.

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