Overview of NGO Accounting & Compliance
NGOs in India must maintain accurate books of accounts, ensure statutory compliance, and provide financial transparency to donors, auditors, and government bodies. Our expert-led services help NGOs navigate the complexities of financial reporting, taxation, and legal obligations with complete ease.
Advantages of Professional NGO Accounting
- Ensures transparency and donor confidence
- Streamlines fund utilization tracking
- Enables timely filing of returns and reports
- Helps in renewal of 12A, 80G & FCRA licenses
- Prepares NGO for external and internal audits
Who Needs NGO Accounting Services?
- Trusts, Societies, and Section 8 Companies
- NGOs receiving domestic or foreign donations
- Organizations registered under FCRA
- Entities availing tax exemptions under 12A & 80G
- Non-profits applying for CSR funding
Documents Required
- Registration Certificate (Trust/Society/Section 8)
- PAN Card of NGO
- FCRA, 12A, and 80G registration certificates (if any)
- Donation receipts and bank statements
- Previous year’s audited financials (if applicable)
Our Accounting Process
- Step 1: Understanding NGO activities & fund flow
- Step 2: Collecting financial & donation documents
- Step 3: Monthly bookkeeping and voucher entries
- Step 4: Preparation of financial statements
- Step 5: Filing of ITR, FCRA, and CSR reports
- Step 6: Year-end audit coordination and compliance
Why Choose Corporate Analytica?
- Specialized NGO accounting and FCRA expertise
- Affordable packages for small & large NGOs
- End-to-end support for audits and tax returns
- Dedicated NGO advisors for compliance guidance
- Pan-India support for all registered organizations
Post‑Accounting Compliance
- Timely ITR, FCRA, and TDS return filings
- Annual activity reports & board meeting records
- Preparation for statutory & internal audits
- Assistance in renewal of 80G, 12A & FCRA
- Guidance on CSR utilization and donor reporting
Frequently Asked Questions (NGO Accounting)
Q1. Is it mandatory for NGOs to maintain books of accounts?
Yes, all NGOs must maintain proper accounts of receipts, payments, donations, and grants to ensure compliance with Income Tax, FCRA, and CSR guidelines.
Q2. Can NGOs avail GST exemption?
NGOs providing charitable activities as defined under GST are exempt. However, compliance depends on the nature of services offered and turnover threshold.
Q3. What is FCRA return filing?
NGOs receiving foreign funds must file FCRA returns annually via Form FC-4 to the Ministry of Home Affairs, detailing fund usage and balance.
Q4. Do all NGOs require audit?
Yes, as per Income Tax Act, NGOs with income above ₹2.5 lakh (or receiving foreign/donor funds) must get their accounts audited by a Chartered Accountant.