A NGO can avail income tax exemption by getting itself registered and complying with certain other formalities, but registration does not provide any benefit to the persons making donations. The Income Tax act has certain provisions, which offer tax benefits to the “donors”. If an NGO gets itself registered under section 80G then the person or the organisation making a donation to the NGO will get a deduction of 50% from his/its taxable income.
Earlier registration under 80G was given as one time registration unless any specific restrictions are provided in the registration certificate itself but Finance Act 2020 has made some substantial changes in registration process and period for which approval will be given. Atma Foundation one of the trustworthy NGO in India registered under section 80G which avails the donor deduction from his/its taxable income.
Who can avail tax savings under 80G?
- A person who makes an eligible donation is entitled to avail tax exemption under 80G.
- Donations made to listed trust and organizations only qualify for deduction u/s 80G.
Registrations
No Details Issued by (Dept/Organ)
1 Registration of Trust Deed Sub Registrar, Thrissur
2 NGO Registration NITI Ayog
3 FCRA Registration Ministry of Home Affairs, Govt of India
4 Registration u/s 80G Income Tax Dept
5 Registration u/d 12 AA Income Tax Dept
6 Pan No Income Tax Dept
7 Registration for ATMA Gurukulam Juvenile Justice (Care & Protection of Children) Act 2015
8 Registration for ATMA Gurukulam Board of Control for Orphanages and other Charitable Homes, Kerala
9 Professional Art Troupe recognition for ATMA Foundation Kerala Sangeetha Nataka Academi
Kalakshetram
10 CII CSR Gateway Profile Registered
Atma Foundation avail the advantage of these provisions to gain benefit to donors. Section 80G is one of such sections. The 80G section ensures that a person donating to the NGO can deduct the amount from their taxable income which helps to more donations.
For more information please click www.atmafoundation.org