- Guarantee for 100 percent off on donation to a Charitable trust or Section 8 Company
- Donations with 50 percent deduct.
- Method of making payment.
- Taxpayers can guarantee deduction under Section 80G if donation is made through check, draft or money.
DONATION Mode AND THE QUANTUM OF DONATION TO BE MADE BY CASH.
A conclusion can be guaranteed under section 80G just when the contribution is made to respective assets and foundations either by means of check or money.
Viable from the evaluation year 2018-19, an individual can benefit a most extreme deduction of Rs 2,000 if the donation is made in real money. In any case, there is no most extreme point of confinement on the conclusion sum if the instalment is made by means of check or digital payment techniques.
WHAT FORMS HAVE TO BE FILED?
Form 10A and Form 10G for 12A registration and 80G under IT act respectively.
ONLINE REGISTRATION
Online enlistment compulsory. If you don’t mind login to income tax gateway and online file the form. Time limit is a half year, for office to Grant enlistment. File form 10A and 10G at the same time, so office will call you for illumination and documentation at once.
Strategies TO BE FOLLOWED FOR OBTAINING INCOME-TAX EXEMPTION
- Instrument of foundation of Organization
- Trust Deed if there should be an occurrence of Trust , MOA if there should arise an occurrence of Society and MOA and AOA in the case of Company
- Certificate of Regn/Certificate of Incorporation
- Trust Deed/MOA in vernacular language
- Previous years Financial Statements ( for most recent 3 years )
- NOC/Proof of responsibility for premises
- Bank account Statement ( most recent 3 years , each record)
- PAN Card of Organization and individuals/trustees of Org/Co./Trust/Society
- Most recent 3 Year Income Tax Return documented and review report in structure 10B
- Properly released letter of Authorized Representative
- First Application of 12A, if not given prior application details.
- Subtleties of Assets by donation.
- Details of Charitable or Religious Activities actually completed
For detailed info or further queries contact Certicom Bangalore.