Non-Governmental Organizations (NGOs) play a big role in solving social problems and giving people more power. However, to ensure continuous operations, NGOs need to adhere to numerous tax and legal regulations. The LegalDost offers NGO tax and compliance services that allow you to focus on your objectives, while we handle the necessary details. Here’s how we make it simple for NGOs to follow the rules.
Why Choose the LegalDost for Your NGO Compliance Needs?
We offer a wide range of services to NGOs, such as Section 8 compliance, Sec. 80G and Sec. 12A registrations and renewals, and tax audits. We provide the following services:
Comprehensive Section 8 Compliance:
- We take care of all the post-incorporation compliance of Section 8 companies, which includes everything from filing documents to making sure that the rules are clear.
- We are well-versed in ROC compliance for Section 8 companies, ensuring timely as well as accurate entries.
- Utilizing a custom compliance checklist for Section 8 companies, we make sure processes that are free of mistakes.
Expertise in Sec.80G & Sec.12A Registration and Renewal:
- We make 80G and Sec. 12A renewals a hassle-free process.
- Make sure you follow all the rules for the tax audit, like meeting the due date and staying within the income tax audit limit.
Custom NGO Compliance Checklist and Support:
- The LegalDost makes an in-depth NGO compliance checklist that includes all legal and financial requirements.
- We offer specialized help for FCRA compliance for NGOs, which makes sure that the handling of foreign donations goes smoothly.
Key Compliance Requirements for Section 8 Companies
Companies that are subject to Section 8 needs to comply with the following every year:
- The Section 8 Company Annual Compliances file needs to be submitted to the Registrar of Companies.
- Meet with the board regularly and hold annual general meetings (AGMs) every year.
- Keeping detailed financial records and filing tax reports are important.
- Stick to a strict compliance checklist for Section 8 companies, which includes filings and checks.
Post Incorporation Compliances: After incorporation, Section 8 companies need to:
- Obtain the required approvals and licenses.
- Submit commencement documents to the RoC.
- Keep statutory registrations and records.
The LegalDost ensures smooth compliance with these regulations, preventing fines and delays.
Sec.80G and Sec.12A of the Income Tax Act
What is Sec.80G?
Donors to NGOs can benefit from tax advantages under Sec. 80G. Important points consist of:
- Donors may deduct up to 50% or 100% of donations.
- For NGOs to be eligible for donor tax benefits, they must fulfill several requirements.
The LegalDost makes it easier for NGOs to raise funds by facilitating a seamless Sec. 80G registration.
What is Sec.12A?
NGOs are exempt from taxes under Sec. 12A, which allows them to allocate funds efficiently. The LegalDost assists with:
- In order to obtain further exemptions, we are abiding by Section 10 (12A) of the Income Tax Act.
- Specific compliance needs, such Sec. 12A Panchkula, are being addressed.
Tax Audit Support for NGOs
Tax audits make sure transparency as well as compliance with financial regulations. The LegalDost assists NGOs in:
- The submission was finished ahead of the tax audit due date.
- We must adhere to the income tax audit turnover limit and stay updated on any amendments.
- Preparing detailed tax audit reports that meet statutory guidelines.
For NGOs, we also provide clearer tax audit definitions to simplify the procedure.
The LegalDost Advantage
The following factors contribute to NGOs’ faith in the LegalDost:
- Expertise in Section 8 Compliance: We handle everything from post-incorporation procedures to annual compliance for Section 8 companies.
- Simplified Sec. 80G & Sec. 12A Services: We guarantee seamless procedures for registration, renewal, and compliance.
- Comprehensive Compliance Support: We manage FCRA compliance, from developing an NGO compliance checklist to doing it all.
- Proactive Tax Assistance: Our team ensures you never overlook a rule change or deadline.
Summary
Complying with NGO regulations doesn’t have to be difficult. From Section 8 company compliance to tax audits the LegalDost streamlines every process. Let us take care of the compliance issues so you can concentrate on making an impact.
To make sure your NGO’s smooth compliance journey, check out our services at the LegalDost right now!
Simplified NGO Tax & Compliance Services with the LegalDost (FAQ’s)
There are strict rules that compliance for Section 8 company companies must follow. These rules include filing financial documents and obtaining reports.
The Section 8 compliance checklist includes items such as tax returns, filings with the ROC, AGM decisions, and maintaining up-to-date statutory registers.
Section 80G lets donors get tax deductions for their donations, which makes it easier for NGOs to get funds.
The Income Tax Act says that donors who make eligible donations can get a deduction under Sec. 80G.
A tax audit checks financial records to make sure they are correct. NGOs that earn more than the turnover limit for tax audits are eligible for this audit.
Yes, extensions may apply. Follow the LegalDost’s updates on tax audit due date extensions.
Annual compliances for NGOs include filing tax returns, audit reports, and financial statements.
The LegalDost provides services for NGO compliance in India, such as FCRA compliance, audits, and tax registrations.