Income Tax For NGOs-NGOportal.org

 How to get exemption under IT Act

Even after getting the registration, the NGOs need to fulfill the following to get exemption from Income Tax:

       * The organisation should use most of its funds for the welfare of the people and also for the 

          charitable purposes.

        * The organisation needs to get its accounts audited and  a  Form 10-B should be filled in by a C.A.            if the total income is  more than 50000/- (Fifty thousand rupees) in an year.

        * The organisation needs to file its I.T. returns using Form 3-A (see forms section) before 31st of          August.

        * In case the organisation's income is more than  Rs.50000/- and is registered under co-operative         Society they need to file its returns before 31st October.