12AB/80G
Abhi Hebbar (6 Points)
11 March 2022when I receive 12AB and 80G certificate
Abhi Hebbar (6 Points)
11 March 2022
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 11 March 2022
Registration under the Section 12AB allows the Non Profit Organization an exemption from tax rates. Failing to do will make them applicable for ITR filling. The 80G section, on the other hand, ensures that a person donating to the NGO can deduct the amount from their taxable income, which leads to more donations.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)