35AC Registration
It is a section under income tax act, according to which any scientific research associations and organizations which are carrying out the scientific research or social research or social science projects can get registration under section 35AC in accordance with guidelines and other conditions as defined under the official gazette of the central government. By registering under the section 35AC organization can benefit its donors like donors can get tax benefit from 100% to 175% as deduction on donation made as per different subsection of section 35AC of income tax act. Â
The Central Government has specified various types of projects of national needs for which Charitable Organizations can take donations as eligible under criteria of section 35AC. The approval under section 35AC is not permanent in nature. The National Committee may approve or reject the project but when the approval is granted then it is valid for a period of maximum 3 years and it could be further extended if the National Committee is satisfied with the performance during the period.Â
The National Committee may withdraw the approval if the project is not carried out in accordance with the approved conditions. To withdraw approval it provides an opportunity of being heard to the organization.
Documents and Information we need
To register the project for 35AC Registration the application will be made to the Secretary, National Committee for Promotion of Social & Economic Welfare, Dept. of Revenue, Govt. of India, North Block, New Delhi – 110001 along with various documents and information i.e:
Name, address and status of applicant, the district/ ward circle where assessed/PAN number.
Audited Balance Sheet, Profit and Loss Account or Income and Expenditure statements for three years.
Trust deed, Rules and Regulation, Memorandum of Association etc.
Name and Addresses of the persons managing the affairs of the association or institution, including those who left the organization but were managing the affairs of the association or institution during the 3 years preceding the date of application.
If the association or institution is notified under section 10(23)(C) or is approved for the purposes of section 80G, the particulars of such approval as granted.
Detail of the activities of the association or institution during 3 years preceding the date of application or since inception if the association or institution is less than 3 years old.
Such other information as the association or institution may like to place before the National Committee
Signed Authority Letter
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