NGO Audit & ITR

Non-Governmental Organizations (NGOs), including Societies, Trusts, and Section 8 Companies, are required to maintain transparent and compliant financial practices to retain tax exemptions and government recognition. Annual Audit and Income Tax Return (ITR) filing are critical for meeting legal obligations under the Income Tax Act, 1961 and respective governing laws.

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Benefits of NGO Audit & ITR

Maintains 12A/80G Eligibility: Mandatory for tax exemption and donation eligibility.
Regulatory Compliance: Ensures compliance with the Income Tax Act and respective registration authorities.
Improved Donor Confidence: Transparent records increase credibility with donors and funding agencies.
Prevents Legal Complications: Timely audits and ITR filings help avoid penalties and future scrutiny.
Financial Clarity: Enables better internal decision-making and fund utilization tracking.

Applicability

Audit and ITR filing is required for:

Registered Trusts and Societies
Section 8 Companies
NGOs with income exceeding the basic exemption limit (₹2.5 lakh, excluding donations with 12A exemption)
NGOs availing government or foreign funding (FCRA)
All entities seeking or holding 80G/12A/FCRA registrations

Process

Document Collection & Review
Gather income & expenditure details, donation records, and fund utilization reports.
Financial Statement Preparation
Draft Income & Expenditure Account, Balance Sheet, and Receipts & Payments Account.
Audit by Chartered Accountant
Independent audit as per applicable laws (Income Tax Act/Trust Act/Societies Registration Act).
ITR Filing
Filing of ITR-7 along with audit report and necessary schedules.
Post-Filing Support
Assistance with 12A/80G renewals, donor queries, and compliance advisory.