80G Certificate
| Market Price: | ₹ 6000 |
|---|---|
| Foundry Price: | ₹5000 excl. GST |
| ₹5900 incl. GST | |
| You Save: | ₹ 1000 (16.666666666667%) |
NGOs must apply for 12A & 80G Certificate to provide income tax exemption to the donors! It also helps NGOs in availing government funding.
About this item
- 80G Registration Filing
Offers and discounts
| GST Invoice Save 18% by Availing GST Credit on Purchases |
80G is a certificate that exempts you part or fully from paying taxes, if you have made donations to charitable trusts or section 8 company or organizations that are registered to offer you exemptions from taxes. For e.g. A charitable organization or trust registered under section 12 A, allows you to avail tax exemption under section 80G. There is however a maximum allowable deduction criteria. The criterion is if the aggregate of the amount you donate exceeds 10% of the total gross income, then the excess amount will not qualify for tax benefit. 80G certificates made its way into law book in the year 1967-68 and it continues to be an important tax saving certificate.
Documents Required For 80 G Certificate
- Stamped receipt is required for claiming deduction under section 80G. The receipt has to be mandatorily be issued by the recipient trust. The receipt should comprise of
- Name, address & PAN number for the trust the donation was made to.
- The name of the do not should be mentioned
- The amount donated should be mentioned in numeric as well as words.
- Donations that can attract 100% deduction – in such case form 58 from the trust should also be asked for
- Form 58 comprises of the details of the amount that was authorized as well as the amount that was collected.
- Without presenting form 58, the deductions made for 100% claims will be rejected.
- Registration number of the trust under 80G
- It is extremely important to mention the registration number issued by the income tax department under section 80G. The registration number should be printed on the receipt. The registration is issued by the income tax department for a period of two years only therefore the registration number as well as the validity of the registration should also be mentioned on the receipt.
- The validity of the registration should be valid as of the date the receipt is issued.
- Photocopy of the 80G certificate is required too in addition to the receipt.
- It is extremely important to mention the registration number issued by the income tax department under section 80G. The registration number should be printed on the receipt. The registration is issued by the income tax department for a period of two years only therefore the registration number as well as the validity of the registration should also be mentioned on the receipt.
