we have several years of experience in Formation of Trust , Society and NGO. Basically trust are two types charitable trust and non trustable .In charitable trust the beneficary not defined and the non charitable trust the beneficary are defined.
A charitable trust is an irrevocable trust established for charitable purposes and, in some jurisdictions, a more specific term than "charitable organization". A charitable trust enjoys a varying degree of tax benefits in most countries. It also generates good will.
Non Governmental Organisation
Non Governmental Organisation are founded by citizens, which include clubs and associations which provide services to its members and others. They are usually nonprofit organizations. Many NGOs are active in humanitarianism or the social sciences. Surveys indicate that NGOs have a high degree of public trust, which can make them a useful proxy for the concerns of society and stakeholders.
NGOs can also be lobby groups for corporations, such as the World Economic Forum. According to NGO.org (the non-governmental organizations associated with the United Nations), "[an NGO is] any non-profit, voluntary citizens' group which is organized on a local, national or international level. Task-oriented and driven by people with a common interest, NGOs perform a variety of service and humanitarian functions, bring citizen concerns to Governments, advocate and monitor policies and encourage political participation through provision of information
Section 12A registration is one time exemption obtained by most Trusts, right after incorporation to be exempted from paying income tax. Trusts and NGOs having 12A registration enjoy exemption from paying income tax on the surplus income of the Trust or NGO. Income tax exemption is available for all non-profit NGOs.
Section 80G of the I-T Act allows donations made to specified relief funds and charitable institutions as a deduction from gross total income. ... Section 80G of the I-T Act allows donations made to specified relief funds and charitable institutions as a deduction from gross total income before arriving at taxable income.
We are one of the most bdependable providers of Foreign Contribution Regulation Act Registration Services based in chennai. Prior permission (Apply in Form F.C 1A) - under this registration, the permission is granted for a specific amount from a specific donor. A letter of intent from the donor to donate the amount must be enclosed along with the application form (Form F.C 1A). There are two ways of registration possible under FC(R) A.•Regular registration (Apply inform F.C 8) - under this registration, there is no restriction (either the total amount or from specific donor) for receiving Foreign Contribution.