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As part of our 'Online Services' we provide the services to register the Non Governmental and Non Profitable organization under section 35ac of Income Tax Act in India.
Under section 35AC, organizations having income from business or profession can get 100 per cent deduction. Charitable Organizations can get registered themselves if they are carrying on any business.
The Central Government has specified various types of projects of national needs for which Charitable Organizations can take donations.
The approval under section 35(AC) is not permanent in nature.
The National Committee may recommend or reject the project but when the approval is recommended then it is for a period of maximum 3 years and it could be further extended if the National Committee is satisfied with the performance during the period.
The National Committee may withdraw the approval if the project is not carried out in accordance with the approved conditions. To withdraw a project National Committee should provide an opportunity of being heard to the aggrieved organization.
Duly registered organization.
Detailed Project for Charitable purposes*.
Documents and information we need
1. Name, address and status of applicant, the district/ ward circle where assessed/PAN number.
2. Audited Balance Sheet, Profit& Loss Account or Income& Expenditure Account for the latest year and two preceding years.
3. Formation documents like trust deed, rules & regulation, memorandum of association etc. and registration certificate, if any.
4. Name & Addresses of the persons managing the affairs of the association or institution, including those who left the organization but were managing the affairs of the association or institution during the 3 years preceding the date of application.
5. 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.
6. 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.7. Such other information as the association or institution may like to place before the National Committee.
8. Signed Authority Letter ( Download It from Here)
*You can use our Document Management Services for this.
Upload your documents at email@example.com or send to our Delhi address for regular services.
EXPENDITURE ON ELIGIBLE PROJECTS OR SCHEMES.
(1) Where an assesse incurs any expenditure by way of payment of any sum to a public sector company or a local authority or to an association or institution approved by the National Committee for carrying out any eligible project or scheme, the asses see shall, subject to the provisions of this section, be allowed a deduction of the amount of such expenditure incurred during the previous year:
Provided that a company may, for claiming the deduction under this sub-section, incur expenditure either by way of payment of any sum as aforesaid or directly on the eligible project or scheme.
(2) The deduction under sub-section (1) shall not be allowed unless the asses see furnishes along with his return of income a certificate 554aa - (a) Where the payment is to a public sector company or a local authority or an association or institution referred to in sub-section (1), from such public sector company or local authority or, as the case may be, association or institution;
(b) In any other case, from an accountant, as defined in the Explanation below sub-section (2) of section 288, in such form, manner and containing such particulars (including particulars relating to the progress in the work relating to the eligible project or scheme during the previous year) as may be prescribed.
(3) Where a deduction under this section is claimed and allowed for any assessment year in respect of any expenditure referred to in sub-section (1), deduction shall not be allowed in respect of such expenditure under any other provision of this Act for the same or any other assessment year.
(4) Where an association or institution is approved by the National Committee under sub-section (1), and subsequently that Committee is satisfied that the project or the scheme is not being carried on in accordance with all or any of the conditions subject to which approval was granted, it may, at any time, after giving a reasonable opportunity of showing cause against the proposed withdrawal to the concerned association or institution, withdraw the approval.
(5) Where any project or scheme has been notified as an eligible project or scheme under clause (b) of the Explanation and subsequently the National Committee is satisfied that the project or the scheme is not being carried
Provided that a reasonable opportunity of showing cause against the proposed withdrawal shall be given by the National Committee to the concerned association, institution, public sector company or the local authority, as the case may be.
Explanation : For the purposes of this section, - (a) "National Committee" means the Committee constituted by the 554b Central Government, from amongst persons of eminence in public life, in accordance with the rules made under this Act;(b) "Eligible project or scheme" means such project or scheme for promoting the social and economic welfare of, or the uplift of, the public as the Central Government may, by notification in the Official Gazette, specify in this behalf on the recommendations of the National Committee.
|Service||Service Fee||Expenses||Completion Time||Order|
|35AC Registration||As Estimated||As Per Project||As Estimated|
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