Filing of Income Tax Returns & Audit Report in Form 10B for AY 2021 22 is Extended
85% of total Income needs to be applied for Charitable or Religious purposes during the year
Income accumulated u/s 11(2) needs to be disclosed in Audit Report i.e. Form 10B
Expenditure on certain activities are not included as CSR Expenditure
Penalty for late filing of TDS returns
Renewal of existing 12A/80G registrations
TDS is deducted on Cash Withdrawals
Registration under 12A and 80G is mandatory for CSR implementation
Organization need to follow Employee Provident fund provisions in certain cases
NGO can invest only in modes prescribed u/s 11(5) of the Act
TDS Certificate need to be issued to Assessee
TDS to be deposited on monthly basis
TDS returns need to be submitted on Quarterly basis
Payment to Specified Persons needs to be disclosed in Form 10B
Due Date to file form 10B is 30th September
Limit under section 10(23C) has been revised to 5 crore
Inter-charity Corpus donations would not be considered as application of Income
Filing of Belated ITRs can be done till 31st December of Assessment Year
Cash expenses above Rs. 10,000 are disallowed
Anonymous Donation is to be taxed at higher rates
It is mandatory to submit MHA approval letter to SBI
Letter from existing bank needs to be uploaded for filing FC-6C
It is not mandatory to open another FCRA Account
Sale Proceeds from FC Assets
Eligibility for receiving CSR Funds
Statement of Donation
Certificate of Donation
DARPAN is mandatory for a certain category of Organisations
Separate 10A form to be filled for revalidation of 12AB/10(23C)/80G
Renewal of 12A/ 80G/10(23C)
FCRA Bank Account
NGOs can apply for CSR Grant
