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Income tax. NPO Taxation. PAN / TAN. Permanent Account Number (PAN) Form 49A Apply before filing return 7-10 days Tax Deduction Account Number (TAN) Form 49B Apply when deducting Tax. 12A Exemption Conditions. Charitable activities Minimum spending 85%

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Presentation Transcript
pan tan
PAN / TAN
  • Permanent Account Number (PAN)
    • Form 49A
    • Apply before filing return
      • 7-10 days

Tax Deduction Account Number (TAN)

    • Form 49B
    • Apply when deducting Tax
12a exemption conditions
12A Exemption Conditions

Charitable activities

Minimum spending 85%

Arm’s length transactions with key persons

Keeping funds in approved modes

Filing tax return annually

the charitable trunk
The Charitable Trunk

12A

80G

10(23)(c)

35AC

Donor Incentives

I Tax Exemption

Charitable Purpose

dealing with 2 15
Dealing with 2(15)
  • Ensure business is
    • Incidental
    • Gross revenue ≤ 25 lakh
  • If not, spin off as a separate organisation
  • Form of organisation?
    • For-profit forms
    • NPO w/o tax exemption
incidental business
Incidental Business
  • Incidental?
    • Only activities connected with main objects
  • Gross Business Turnover
    • Any amount for first five categories
    • ≤ 25 Lakh for Sixth Category
business accounting audit
Business: Accounting/ Audit
  • Separate books of account – sec. 11(4A)
  • Attach Audited P&L A/c
  • Transfer profit to main I&E A/c
  • Form 3CD audit report if
    • Fees Turnover > 25 lakh
    • Sale Turnover > 1 crore
further reading
Further Reading

Accountable 15 : Basics of Tax Registration

Accountable 16 : Income Tax Return

Accountable 91 : Income Tax Exemption

Accountable 141 : Charitable purpose and Income Tax

Auditable 2 : Charitable Purpose - 1

Auditable 3 : Charitable Purpose - 2

Accountable 142 :Eleventh Commandment

Accountable 143 : Taxation Tricks and Traps

Auditable 12 : Taxing NGO Programs Outside India

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