Income tax is a portion of the money you pay for the Government from your monthly income for the welfare of the society. You may feel that even if you earn more, you pay a lot for the income tax as the rates changes from time to time. Whatever, the situation may be, being a citizen of India, it’s your responsibility to pay your taxes without fail else it will be considered as a black money.
Even though you cannot escape from paying your taxes, here is a simple option for you to reduce your tax rates or the tax period being extended. This process is called 12a registration online. If you own a company that could do social services to the people like an NGO or WHO, then fifty percent of your tax will be deducted through this 12a registration.
The whole registration process is done through online at free of cost. With the aid of user-friendly simplified online platform, it takes only a few minutes to complete and to get a certificate of this registration.
- Before logging into the system, you cannot simply open the websites with no documents in your hand. You must have a checklist of the following proofs:
- Do I have my address proof with me?
- Is my license card valid till date?
- Am I living in the same residential address as per mentioned in the voter id?
- Am I having a valid PAN card?
- Is the PAN card linked with my bank account details?
- Am I going to apply a single or with a partnership with someone else? If done with a partner, check whether I am having my partner’s proof.
- Do I have my valid license for the machines installed in my industry?
- Is my annual income matches with the eligibility criteria for the 12a online registration process?You must check whether you are pursuing the following documents and the id proofs mentioned above.
You may ask in what other ways thus this online registration helps you? Followed with the 12a registration process, the Government has enacted the income tax law under the 80g online registration process. The law states that if a person is donating funds to welfare trusts, then a portion of the tax will be deducted. He could enjoy with his income by paying low tax rates.
With new innovations and technological power on the internet, these registration processes were done easily through online. So the only thing you need is your own personal computer and laptop along with the necessary documents. Apart from the tax benefits, you must be cautious about entering your data in the online websites. You must be sure that the details entered by you belong to you only and the documents you upload are valid.This is a necessary aspect of the 80g online registration process because you will be verified by the income tax departments and if they came to know that you are doing any sort of malpractice, then no doubt you will be punished under the laws of income taxes framed by the governing bodies of India.