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Running your NGO? Now, file your NGO’s Income Tax return with the help of Chartered Accountants who are Experts in Income Tax Law. Being a Trustee/Member/director of the NGO comes under your obligation under the Income Tax Act, 1961. You may have lots of confusion as it involves taxation aspect of your Non-Profit Organization. Request a call back here
At Compliance Calendar LLP, Chartered Accountants are qualified to resolve any query related to ITR filing, notice and other query related to Income tax. For any query or problem, you may have, our experts who will assess your NGO workings and advise you for your tax return issues.
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Income Tax Return is nothing but a prescribed form through which the particulars of income earned by a person (here in you case person means NGO) in a financial year and tax payable on such income is communicated to the Income tax department after the end of the relevant financial year.
The forms used to file details of income taxes payable and Paid with Government are known as Income Tax Returns. Income tax return forms are provided for different assessesee by the IT department. It is also a complete online procedure where you need not submit any physical form to the department.
The Central Board of Direct Taxes (CBDT) has made it mandatory to file Income Tax Returns for all NGOs irrespective of their income or loss. ITR-7 is prescribed form of ITR through which the particulars of NGO in a financial year is communicated to the Income tax department after the end of the relevant financial year.
Let us help you understand ITR filing for NGO in simple words:
An NGO has to file ITR-7 at the end of the relevant financial year.
Income Tax Return Form 7 or ITR 7 is an income tax return form that is to be submitted by tax assesses who are required to file returns under key sub-sections of Section 139 of the Income Tax Act, 1961.
ITR-7 is a form filed by those individuals and companies that fall under the following sections:
Taxpayers who are not claiming exemption under Section 139 (4A), Section 139 (4B), Section 139 (4C) or Section 139 (4D) are not liable to file ITR-7 Form for Income Tax Return.
Online Tax returns are set up in an excel worksheet & Java Formats, where the income figures are used to calculate the tax liability of persons. Tax returns are to filed every year by NGO. We are here to help you to file ITR-7 to the Income tax department. Let our team of Chartered Accountants help you in filing your NGO Tax Returns.
For filing Income Tax returns of your NGO, we need from you the accurate information on workings and TDS paid. Here is a checklist of what we need for e-Filing your Income Tax returns:
Below are the Steps for e-Filing of Income Tax Return for NGO:
You must have heard or seen many advertisements which encourages the NGO to file the income tax return with the department. But wait, what is the benefit of filing the same. Well, here are the answer which will enlighten your knowledge and encourage you to file your NGO income tax return with the department. Some of them are given below:
An ITR is a form through which taxpayers declare their income, expenses, deductions and tax payments to the department. This procedure is called as income tax return filing. If you've paid more taxes or extra TDS gets deducted than needed, the department will refund the extra money to your bank account with the filing of your ITR only. If you have paid less tax for the year, you have to pay the taxes and then can file your return. Tax form ranges from ITR 1 to ITR 7, which are used for different types of incomes and for different persons. Each form demands different information, some forms require more info and some need less and some need additional information such as a complete balance sheet and profit and loss statement also.
Normal time is up to 2 working days subject to site working.
Yes. If the NGO wants to have Government Grants, then it is must to have NITI Ayog Registration.
Please refer the Documents section above.
No. Our Compliance Manger will be doing it for you in the complete procedure of NITI Ayog Registration which is online process.
An NGO is allowed receive foreign donations only when NITI AYOG (Foreign Contribution Regulation Act 1976) registration has been obtained from Ministry of Home Affairs. NITI AYOG license is normally applied when the Society is minimum 3 years older (in exceptional cases can be allowed-T&C.)
The NGO-PS helps NGOs to:
To apply for grants under NITI Ayog, Get your NGO registered under Dapan. NGO Representatives can approach Nodal Officers for the concerned scheme, from the website. Any queries regarding schemes or about how to proceed for schemes and grants will be clarified by the respective Nodal Officers.