When you want to attract foreign donations, FCRA Registration will help you. 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.
Registration for 80G Certificate
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, if it is registered under 12A.
A newly registered NGO can also apply for 12AG registration.
NGO does not have to pay tax for the entire lifetime if it gets registered under section 80G & 12A.
FCRA registration is required to attract donations outside India; The NGO must be registered under the provisions of the foreign contribution regulation act, 1976.
For FCNRO registration an NGO must have completed three years of operations. FCRA Registration is granted by the Ministry of Home Affairs, Govt. of India.
Decision: - Is an FCRA Registration required for your NGO to attract foreign donors.
Tax Benefits: - NGO can avail income tax exemption by getting 80G & 12A certificate.
A 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
Attract Foreign donation: - Its mandatory to get FCRA Registration if one want to have foreign donors in NGO.
It’s easy for NGO to receive foreign donation if registered under FCRA.
If FCRA registration benefits & Liabilities fulfills your business requirement, then FCRA registration might best suit your NGO needs.
NGO income or assets should be exclusively for the purpose of charity.
Proper books of accounts of the NGO should be maintained, including all receipts and expenditures.
NGO should not be formed with the benefit of a particular religious, community or caste.
NGO should have core objective of charitable purposes, and whole income should be from donations. If in case, NGO has a business income then the trustee of the NGO should maintain separate books of accounts to ensure that NGO should not divert donations.
For FCRA registration, an NGO must have completed three years of operations.
Corpseed Three Easy Steps to Apply for FCRA Registration
1. Fill out basic requirement form
2. We'll collect all your documents and file them directly with the authority
3. You'll receive your completed FCRA registration package by an E-mail
A copy of PAN Card (NGO)
Certified copy of Trust Deed / MOU
Past 3 years Audited Balance Sheet, Income & Expenditure Account
A Copy of certificate issued by the Income Tax Authority under 80G & 12A of the Income Tax Act
Detail about the current and past management of the trust
Copy of resolution passed by the Governing Body of the NGO
Annual report of the NGO and details of work done in past 3 years
Copy of Undertaking from the Chief Functionary of the NGO
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