We will help you become Social
Being social is just about helping those who are in need
There are so many strata of people who make up the whole population of a nation. But they are different from each other. Some are affluent and some are mere stragglers of survival. There are masses who don’t even have excess to basic day-to-day requirements but there are also people who have so much in excess, that the amounts if distributed, would solve many problems plaguing most areas concerned therein.
Charity cannot be done without help of those who can help others with their wealth. And for undertaking all these activities an institutional set up is required.
Here we comes in
We are available all the times for all sort of advisory concerning setting up of Charitable institution as well as its further functioning;
Our service basket contains following;
Charitable organization in India can be set-up in following 03 formats;
The registration is quite simple, Requires 02 or more than 02 people to form a trust, Initial corpus fund contribution is minimal, post incorporation compliance cost is also Comparatively low.
Most popular and used structure for undertaking charitable activities.
The registration process is somehow lengthy as compared to trust formation, requires at least 07 person to form a society. Initial corpus fund contribution is not mandatorily required, post incorporation compliance cost is similar to Trust.
Used mainly when group of people join hands together to perform charitable activities.
Section 08 Company
Corporate format of charitable organisation. The registration process is again simple, require 02 or more than 02 person to incorporate, Initial capital fund contribution is again minimum, However post compliance cost is higher in comparison to Trust and society format.
Used mainly when the founders are with handsome corpus fund. Wide recognition is there too
Once the charitable organisation is registered, there are certain approval or recognitions required to be obtained for better and hassle-free functioning of these organizations;
Section 12A recognition
Section 11 of Income Tax Act, 1961 prescribes exemption (from Income tax) benefits for those organization who are performing charitable activities. to enjoy that benefit the recognition from income tax department is to be obtained which is commonly known as “Section 12A” registration.
Section 80G Approval
Similarly Section 80G of Income tax Act, 1961 prescribes tax benefit for those who make donation to these charitable organization. Higher donation would be there if organization is approved by Income Tax Department for accepting such donation and so more charity would be there with that higher donation fund.
If concerned charitable organisation wishes to have foreign funding then it has to mandatorily obtain FCRA registration, Otherwise it can not accept Foreign contributions.
Design and implementation of Accounting System
Charitable organizations are custodian of money received from others which is supposed to be applied for designated activities. Also at the same time these organisations are availing tax benefits too, so it is of utmost importance that these organizations keep and maintain proper accounting records which reflect true and correct financial position and results too.
Convening Meetings & Seminars
Charitable organization perform activities for fulfilment of objects for which they are formed and these activities require particular framework and their organised implementation at the same time. Meetings and seminars will be held for proper execution and convening of these meetings and seminars in well planned way is of utmost importance.
Document management system
Minutes of meeting, prospectus, Activity report, Annual report etc are some documents which are necessary ingredients so far as documents in context of charitable organization are concerned.
Preparation of all these requires professional expertise without which it cannot be done in right manner.
As said earlier also that charity cannot be done without the help of others who have wealth and a desire to help others.
For charity to take place there should be a proper coordination among potential donors and these institutions. Charitable activities can take place only when the organisation is left with substantial fund to expend towards social welfare activities.
Similarly, donation from donor can happen only when the organisation proves itself well capable to expend the funds so entrusted in right manner and for right candidates.
So exhibiting the capabilities of organisation and informing them about the potential donors is key ingredient of coordination among Donors and Charitable organisations.
We at India Paramarsh offer our services as described above and advisory in relation to any matter incidental to setting up as well as functioning of charitable organisation