Non-profit organisations with independent operations are referred to as NGOs. Depending on the scope of their activity, NGO in Noida might be registered as societies, trusts, or section 8 businesses.
NGOs may engage in a wide range of activities that are volunteer, group-based, or institutional, as long as the overarching goal is to advance society as a whole or a particular or vulnerable social group.
Among the tasks carried out by NGOs are those related to the environment, society, advocacy, education, and human rights.
An NGO may register in one of the following three methods legally:
(1)Registration of trusts pursuant to “The Indian Trust Act, 1882”
(2)“Societies Registration Act, 1860” society registration
(3)Registrations of companies under Section 8 of “The Companies Act, 2013”
Benefits of registering as an NGO in Noida
1. No necessity for a minimum share capital
It is not necessary to have a minimum share capital to operate autonomously. NGOs may receive direct funding from donations given to them. This indicates that NGOs can operate independently without a greater share capital.
2. Defense against personal liability
In the name of your NGO, you can purchase, acquire, and register assets and stakes. This is a means to shield your business from unrestricted liability resulting from unfortunate events like divorce, foreclosure, bankruptcy, or judgement debt.
3. Ownership transfer
NGOs formed under the Companies Act of 2013 are not prohibited from transferring their ownership or claims to the interest earned under the Income Tax Act of 1961.
4. Avail tax exemption
Having the firm registered as an NGO under the 2013 Companies Act enables it to benefit from a number of tax-related reductions. NGOs are exempt from a number of taxes, allowing them to invest the money they save in additional projects.
5. Right to acquire assets
Your organisation is allowed to purchase real estate, own fixed assets, and/or purchase liabilities once it has obtained legal registration. Any purchase, holding, or sale of land by an unregistered organisation is prohibited by law.
6. Name preservation
Once your business is registered, nobody else in India is allowed to use the same name or one that sounds similar to it. This provides the advantage of preventing illegal usage of your company’s name and image.
7. Entity stability
The public may infer from your organization’s registration that you have responsible and competent leadership in place. To further shared goals, political parties, the government, donor organisations, financial institutions, charitable organisations, and other NGOs will wish to collaborate with a recognised entity.
8. Constant continuation
As a result, an NGO has an endless lifespan and will continue to operate even if its founders or trustees pass away or quit. Only if it is formally wound up by an Indian court order will the organisation stop existing. This may enable permanent succession in addition to other advantages.
9. Stamp duty exemption
Since NGOs are exempt from stamp duty under the Income Tax Act, section 8 companies can use additional tax-saving strategies. All of the taxes that were avoided through stamp duty are then used to support the company’s goals.
10. Organized financial strategy
An NGO might provide a tax-free framework for activities you carry out on behalf of the registered NGO. NGOs are regarded as non-profit entities and are not subject to taxes. You can create a well-structured financial strategy that enables the company to operate tax-free.
With the aim of clean Noida, we have associated with various NGO near us who are dedicatedly volunteering to strengthen Noida's waste management.
