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Complete Guide to Form 80G and 12A Registrations in India: Importance, Advantages, and Application Process

By eFiling India TeamPosted on June 20, 2024Posted in Income TaxTagged Accountability, Advantages, Application Process, Charitable Organizations, compliance, Donors, Eligible Entities, Financial Sustainability, Form 12A, Form 80G, importance, India, Philanthropy, Registrations, required documents, tax benefits, TransparencyNo Comments

Understanding Form 80G and 12A Form 80G and 12A are certifications issued by the Income Tax Department of India that provide tax benefits to donors and entities. Here’s what they entail: Form 80G Purpose: It allows tax deductions to donors who contribute to charitable organizations. Entities Eligible: Charitable trusts, NGOs, religious institutions, etc. Benefit to […]

Unlocking GST: A Deep Dive into ITC Restrictions – Explore Why You Can’t Claim Input Tax Credit in These Scenarios

By eFiling India TeamPosted on May 18, 2024Posted in GSTTagged business transactions, compliance, Composition Scheme, GST limitations, GST regulations, India, Input Tax Credit (ITC), personal expenses, tax benefits, works contractsNo Comments

Certainly! Here’s a detailed guide on cases where Input Tax Credit (ITC) under the Goods and Services Tax (GST) in India cannot be availed, focusing on various categories like motor vehicles, food and beverages, insurance services, membership fees, and more, along with examples for better understanding: 1. Motor Vehicles and Conveyances Input Tax Credit cannot […]