Easy Tips to Prepare, Formation and Taxation For NGOs.
NGO is a kind of non-profitable, charitable organization formation of NGO is similar like a entity formation but who’s motive is not profit NGOs work mainly to give back something to society for the welfare of the society without expecting any profits. To form& run an NGO it’s a long process, it takes time, resources and team of persons to establish and there should be a dedicated team who take care of resources so that it should not be misused because so many form them to transfer their black money. During the formation of NGO it should keep in mind that the process may vary from areas, persons and objectives of NGO.
There are some aspects also to form an NGO, the process & registration may be simple but it becomes easier & time-saving aspect when you consult an expert who specialises in NGO formation, maintaining the books, various compliances to be dealt with to receive the funds from abroad.
The following services can provide to NGOs for ease of formation & run the organization in an easygoing:
- Society registration (memorandum & articles of association)
- Section 25 Company, Formation of Trust.
- Income Tax Services.
- Statutory Audit Services.
- Foreign cooperation Registration Act(FCRA) Registrations.
- FCRA compliance & FC3 returns.
- Internal Audit& reports, Book-keeping Services.
- Advisory Services for procurement of funds.
Name of an NGO:
It is a basic requirement to name the organization. It should be in a way like it should exhibit the views & ideas of the organization as the name speaks a lot and cannot have the names which are prohibited under various acts.
