NGO is a short form of “Nongovernmental Organization”. Thus NGO is a non-governmental organization and, in its broadest sense, is one that is not directly part of the structure of government. NGOs have developed to emphasize and promote humanitarian issues, development aid and sustainable development.
A non-governmental organization (NGO) is a legally constituted organization created by natural or legal persons that operates independently from any form of government. The term normally used to refer to organizations that are not a part of the government and are not conventional for-profit business.Trust Registration A legal arrangement in which an individual (the author) gives fiduciary control of property to a person or institution i.e, the trustee(s) for the benefit of beneficiaries. Except where state legislation exists to regulate trusts, trusts are regulated by the provisions of the Indian Trust Act 1882.
- A trust is created when the author of the trust indicates with reasonable certainty by any words or acts ;
- An intention on his part to create a trust
- The purpose of the trust Any State Cooperative Societies
- The trust property, and (unless the trust is declared by will or the author of the trust is himself to be the trustee) transferred the trust-property to the trustee
A society is a group of people involved with each other through persistent relations, or a large social grouping which voluntarily joins together, subject to the same political authority and dominant cultural expectations incorporated under Society Registration Act, 1860 to promote generous, social welfare, helpful, religious, charitable, educational, professional or any other useful object but not for the purpose of carrying on any trade, industry or business. A society, though not a corporation, is a legal entity and it can be described in a particular name for a purpose.
It is constituted for the benefit of one or more individuals who are, or within a given time may be, definitely ascertained. They are governed by the Indian Trusts Act 1882. A Private Trust may be created inter vivos or by will. If a trust in created by will it shall be subject to the provisions of Indian Succession Act, 1925.
he existence of the author/settlor of the Trust or someone at whose instance the Trust comes into existence and the settlor to make an unequivocal declaration which is binding on him.
There must be a divesting of the ownership by the author of the trust in favour of the trustee for the beneficial enjoyment by the beneficiary.
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Preparation of Annual Report
Annual report is a very important and crucial part of work of an organization.This helps them to understand the objectives with mission, vision, projects and the people .The purpose of writing down an annual report is which acts as a marketing tool which is send to the stakeholders of the organization.
The annual report is the proof of the transparency of the organization in front of the donors to show that the donations have been used wisely.
The annual report is very necessary for filing return, the give an impact of the activities of the NGO.
FCRA Registration & Renewal
Foreign Contribution Regulation Act, 2010 (FCRA):
This act consolidates the law to regulate the acceptance and utilization of foreign contribution and hospitality by certain individuals or associations.Foreign contribution means donation, delivery or transfer made by any foreign source.
12 A Registration
12(A), Under section 12A, NGO like trust, society and foundation should register with Income tax department for a valid 12A certification.
NGO can get exemption from tax on NGO’s income under section 12A. Income of an organization is exempted if NGO has 12-A registration. All income shall not be taxable after 12-A registration. This is one time registration. If the NGO is not registered, income tax is payable on surplus during the year.
This exemption is available for all non-profit NGOs. Unfortunately, many NGOs have not applied for this even after 10-15 years of working. This delay can be forgiven if you apply with sufficient reasons.
80 G Registration
80G offers a tax deduction for donations to certain prescribed funds and charitable institution.
NGO can apply for 80G as early as possible just after the registration of the NGO. An NGO can avail income tax exemption by getting itself registered and complying with certain other formalities, but such registration does not provide any benefit to the persons making donations. The Income Tax Act has certain provisions which offer tax benefits to the “donors”.