12A Registration

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12A Registration in Jaipur

 

By virtue of 12A registration, Trusts and NGOs and other Section 8 companies enjoy exemption from paying income tax. NGOs are basically organizations that are meant for charitable and non-profit activities. However, they do have income and would be required to pay tax as per normal rates if not registered under section 12A of the Income Tax Act. The Section 12A of the IT Act, 1962 does not differentiate between charitable and religious Trusts. Hence 12A registration is applicable to both the kinds of organizations.

 

Features

These are some features are :

 

  1. The income received will be free from taxation.
  2. The person registered under this section can avail benefits for accumulating or setting aside income which is not more than 15% for the charitable or religious purposes.
  3. NGOs are entitled to receive grants and funds from various agencies. These agencies are entrusted to provide grants to 12A registered NGOs.
  4. The Finance Act 2014 has extended benefits of registration for the trusts and institutions that have been registered under Section 12AA

 

Documents Required

Following documents are required for registration purpose:

 

  1. Form 10A.
  2. Documental evidence of the creation of the Trust or NGO – Trust Deed of a Trust; Registration Certificate and Memorandum of Association of a society; section 8 companies to submit a certificate of incorporation and copies of MoA and AoA of the company.
  3. Three-year bank account statement of the Trust.
  4. PAN card of the organization.

 

Time

12A Registration about 45-55 working days.

 

 

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