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35AC Registrstion

Section 35AC is available to persons who have income under the head "Income from Business or Profession" but the persons not having income under the head are going to get the deduction under section 80GGA which generally provides for the donation made to these organizations. Here total deduction is available in respect of the amount paid as donation subject to the availability of the Income for claiming deduction as it cannot be carried forward as in case of Section 35AC.


THE APPLICATION AND ITS ENCLOSURES

  • The application is to be made in 2 Sets, written either in Hindi or English. Details such as name, address and status of applicant, the district/ ward circle where assessed/PAN number. Audited Balance Sheet, Profit& Loss Account or Income& Expenditure Account for the latest year and two preceding years. How is it constituted i.e. whether as a trust, society, etc supported by relevant documents like trust deed, rules & regulation, memorandum of association etc. and registration certificate, if any. Name & Addresses of the persons managing the affairs of the association or institution, including those who left the organisation but were managing the affairs of the association or institution during the 3 years preceding the date of application. If the association or institution is notified under section 10(23)(C) or is approved for the purposes of section 80G, the particulars of such approval granted. Brief particulars of the activities of the association or institution during 3 years preceding the date of application or since inception if the association or institution is less than 3 years old. Such other information as the association or institution may like to place before the National Committee.


ADDITIONAL INFORMATION REGARDING THE PROJECT/SCHEME TO BE SUBMITTED

  • • Title of project or scheme;

  • • Date of commencement;

  • • Duration and the likely date of completion;

  • • Estimated cost of the project ;

  • • Category or class of persons who are likely to be benefited from the project or scheme;

  • • Affirmation that no benefit from the project or scheme other than remuneration or honorarium, will accrue to persons managing the affairs of the NGO ;

  • • Such other particulars as the applicant may place before the National Committee.

A

Section 35AC deals with 'Expenditure on eligible projects or schemes'.

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Section 35AC is governed by Income Tax Act, 1961

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Section 35AC approval/recognition of an NGO empowers it to pass on unlimited deduction to its donor i.e, 100% without any limit as against normal approval u/s 80G entitles only 50% deduction that too subject to a limit of 10% of adjusted Gross total Income of the Donor.

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People working on the following projects and schemes:

Construction and maintenance of drinking water projects , dwelling units for the economically weaker sections, of school buildings , of bridges, public highways and other roads Establishment and running of non-conventional and renewable source of energy systems, of educational institutions in rural areas, of hospitals and medical facilities in rural areas, of crèches and schools for the children of workers employed in factories or at building sites

  • Promotion of sports

  • Pollution control

  • Relief and rehabilitation of handicapped individuals

  • Plantation of softwood on degraded non-forest land

  • Any other programme for uplift of the rural poor or the urban slum dwellers, as the National Committee may consider fit for support

  • Any programme that promotes road safety, prevention of accidents and traffic awareness

  • And similarly other projects as notified by the govt. in official gazette and under the Income Tax Act, 1961.

    Section 35AC is available to persons who have income under the head "Income from Business or Profession" but the persons not having income under the head are going to get the deduction under section 80GGA which generally provides for the donation made to these organizations. Here total deduction is available in respect of the amount paid as donation subject to the availability of the Income for claiming deduction as it cannot be carried forward as in case of Section 35AC.

    The Application and its enclosures

    • The application is to be made in 2 Sets, written either in Hindi or English. Details such as name, address and status of applicant, the district/ ward circle where assessed/PAN number. Audited Balance Sheet, Profit& Loss Account or Income& Expenditure Account for the latest year and two preceding years. How is it constituted i.e. whether as a trust, society, etc supported by relevant documents like trust deed, rules & regulation, memorandum of association etc. and registration certificate, if any. Name & Addresses of the persons managing the affairs of the association or institution, including those who left the organisation but were managing the affairs of the association or institution during the 3 years preceding the date of application. If the association or institution is notified under section 10(23)(C) or is approved for the purposes of section 80G, the particulars of such approval granted. Brief particulars of the activities of the association or institution during 3 years preceding the date of application or since inception if the association or institution is less than 3 years old. Such other information as the association or institution may like to place before the National Committee.

    ADDITIONAL INFORMATION REGARDING THE PROJECT/SCHEME TO BE SUBMITTED

    • • Title of project or scheme;

    • • Date of commencement;

    • • Duration and the likely date of completion;

    • • Estimated cost of the project ;

    • • Category or class of persons who are likely to be benefited from the project or scheme;

    • • Affirmation that no benefit from the project or scheme other than remuneration or honorarium, will accrue to persons managing the affairs of the NGO ;

    • • Such other particulars as the applicant may place before the National Committee.

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