Ngo itr

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 June 2016 Dear Experts,

One of my friend has non profit ngo, he has audited financials till fy 2014-15,

He has not registered under IT for 12A & 80G, stiill he is required filled the ITR, if yes which form he can use for ITR.

Querist : Anonymous

Querist : Anonymous (Querist)

22 June 2016 can any one reply/ ans for the same

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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04 August 2024 Yes, your friend's NGO is still required to file income tax returns (ITR) even if it is not registered under sections 12A and 80G of the Income Tax Act. Here’s what they need to know:

1. **Filing Requirement**: All entities, including NGOs, which are eligible for tax exemption or not, are required to file income tax returns if their income exceeds the basic exemption limit (currently ₹2.5 lakh for individuals below 60 years of age).

2. **Form to Use**: Since the NGO is not registered under sections 12A and 80G, it will not be eligible for tax exemptions under those sections. Therefore, it should file its income tax return using **Form ITR-5**.

- Form ITR-5 is used by all types of persons including companies, firms, LLPs, AOPs, BOIs, artificial juridical persons, and local authorities. NGOs that are not registered under section 12A and 80G fall under this category.

3. **Audited Financials**: Since your friend’s NGO has audited financial statements till FY 2014-15, these audited financials will be required to prepare and file the income tax return. Audited financial statements provide a verified basis for reporting income, expenses, and other financial details to the tax authorities.

4. **Due Date**: The due date for filing income tax returns for NGOs is generally the same as for other entities, which is usually 31st October of the assessment year (for example, 31st October 2023 for FY 2022-23). However, it's advisable to check the exact due date each year as it can vary.

5. **Consequences of Non-Filing**: Failure to file income tax returns on time can attract penalties and interest, and can also lead to loss of various benefits under the Income Tax Act.

In summary, your friend's NGO should file its income tax returns using Form ITR-5, despite not being registered under sections 12A and 80G. It's important to ensure compliance with income tax filing requirements to avoid any penalties or legal issues.

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