TAXAJ

Income Tax Filing for Section-8/Non-Profit/Trust/NGO

Income Tax Filing for Section 8 Company or NGO is different from normal tax filing, where many other things are needed to be taken care of to avoid any notices in future. Every trust, shall, if the total income before exemption under section 11 and 12 exceeds the maximum amount which is not chargeable to income-tax, furnish a return of such income of the previous year.

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About This Plan

Income Tax Filing for Section 8 Company or NGO, prepare your business accounts and file returns with TAXAJ.

Created by potrace 1.15, written by Peter Selinger 2001-2017

Timeline

It usually takes 3 to 5 working days.

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Services Covered
Who Should Buy
How It's Done
Documents Required
Services Covered

  • Account Summary - Income & Expenses Statement and Balance Sheet (up to 250 entries per year)
  • Advance Tax Payment (4 nos.)
  • Expert Assisted Tax Filing for business and professionals
  • Tax Savings & Planning Advice
  • Documented follow up
  • Excludes the Tax audit Fees
Who Should Buy
  • Not for Profit Organisation
  • Section 8 Company
  • Trust
How It's Done

    • Purchase of plan
    • Upload documents
    • Financial Statements Preparation
    • Review computation sheet
    • Return filed & acknowledgement generated
Documents Required
  • KYC, Email, Phone No. of assessee
  • Bank statements for the financial year
  • Income and Expense statements
  • Auditor reports
  • Bank statement if interest received is above Rs. 10,000/-

FAQ?

What are the forms that needs to be filed for Income Tax Return of NGO's?

ITR 7 – ITR-7 is filed when persons including companies fall under section 139(4A) or section 139 (4B) or section 139 (4C) or section 139 4(D).

Whether e-filing of return is mandatory for a trust?

It is mandatory for a trust to file return of income electronically with or without digital signature. A trust may also file return of income under Electronic Verification Code. However, a trust liable to get its accounts audited under section 44AB shall furnish the return electronically under digital signature.

What are the Due dates for filing Income Tax Return of NGO's?

A trust who is required to get its accounts audited under the Income-tax Act or under any other law – September 30 of the assessment year

A trust who is required to furnish a report in Form No. 3CEB under section 92E – November 30 of the assessment year

In any other case – July 31 of the assessment year

What are the Tax Rates NGO's?

A trust is chargeable to tax as per the slab rates which are applicable to an individual (not being a senior citizen or super senior citizen).

What are the penalty for late Income Tax Return of NGO's?

It shall pay by way of penalty a sum of Rs. 100 for everyday during which the failure continues.

What are the forms that needs to be filed for Income Tax Return of NGO's?