NGOguru provides a full range of cost effective services in all Compliance related to NGO's :
•General ledger & financial statement preparation
• Bookkeeping (Monthly/Quarterly/Annual)
• Accounting system setup for new NGO,
• Computerized payroll services.
• Income tax return preparation
• Personal financial statements
• Litigation support
• Internal Review
• Review Report
• Minutes of Meeting
After a registration of NGO, Whether it is a Society, Trust or Section 8 Company.
After getting permanent account number (PAN) for NSDL/CDSL; You have to go for open a bank account.
This is NOT a mandatory one. However to give benefit of 50% or 100% exemption on donation to our donors, it is per-requisition to get the registration u/s. 80G of Income Tax Act. It is indirectly benefited to NGOs to raise funds.
If there are possibilities to receive Foreign Funds for projects of NGO, a registration with FCRA department, Ministry of Home Affairs is compulsory.
During the working of NGO at any point of time, if NGO become liable to deduct tax from source, it has to first apply for TAN. Like PAN, TAN application can be made online thought https://tin.tin.nsdl.com/tan
Only when NGO is providing services like consultancy work or research activity etc… and if gross revenue from such activity cross the basic exemption limit of service tax, then NGO has to first apply for Service Tax Registration number.
When NGO is selling any product then they will liable to charge and pay VAT to state government and if gross revenue from such activities cross the basic exemption limits of VAT Department then NGO must be goes to take VAT Registration/ TIN.
Various compliances are required to comply by all kind of NGO’s on event basis, Quarterly Basis, Half Yearly Basis or Yearly Basis.
• Society have to submit annual return and governing body list at SDM office within 14 days of completing financial year.
• Section 8 Company required to file annual return and Receipts & Payment Account within 30 days at MCA Portal.