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Income Tax Exemption For Ngo

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Under section 11(1)(a) to (c), income that is derived from property held under trust is exempt if following conditions are met:
a) Property is held under trust wholly for charitable/religious purposes
b) Income from such properties are applied to charitable/religious purposes
c) Income should be applied in India
d) At least 85% of income derived from properties held under trust is applied to charitable or religious causes in relevant previous year for claiming full tax exemption.
Note :

  1. Here, assessed needs to apply for registration in Form No. 10A in duplicate before expiry of 1 year from the date of creation of trust.
  2. Any voluntary contribution received by a trust or institution is exempt if (a) the trust is created wholly for charitable purposes and (b) contribution is not made with a specific direction that it shall form part of the corpus of the trust.
‘Societies’ are taxable in status of AOP where different tax rates are applicable to income of AOP in different circumstances:
Individual shares of members in AOP are not determinate -
i. Where total income of any member of AOP is taxable at rate higher than maximum marginal rate-Rate of tax is such higher rate
ii. Otherwise-30%
Individual shares of members in AOP are determinate –
i. If total income of any member is not higher than Rs 50000/- (excluding share from AOP)
ii. No member is taxable higher than 30%
iii. Rate of tax on total income of AOP is rate applicable to individuals and if any member is taxed higher than 30%, then –
(a) Tax on portion of total income of AOP that is relatable to share of such member is levied at such rate higher than 30%
(b) tax on balance total income will be 30%.
The income generated by any institution established for charitable purposes is exempt from taxation. For getting exemption under defined clauses, following requirements need to be completed:
i. Making an application in Form No. 56
ii. Applying income/accumulating it for application, wholly & exclusively to its objects
iii. Notice of accumulation u/s 11(2) provided to assessing officer in Form No. 10


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