TAX NOVA GLOBAL SOLUTIONS LLP has hands-on expertise in accounting, financial statement preparation, and statutory compliance for charitable trusts, public trusts, NGOs, and Section 8 companies across Telangana and India. We support organisations from initial registration through ongoing compliance — including 12AB, 80G, ITR-7, and donor reporting.

Not-for-profit organisations in India face a distinct set of accounting standards and compliance requirements under the Income Tax Act, the Companies Act (for Section 8 companies), and FCRA (for foreign contributions). Our NGO practice covers trust accounting under ICAI guidelines, provisional and audited financial statement preparation, 12AB and 80G registration, and ongoing compliance including ITR-7, Form 10BD/10BE, and the 85% application rule.

• 12AB & 80G registration expertise — End-to-end support for trust registration and exemption applications, including preparation of provisional financial statements required by the Income Tax Department.
• ICAI not-for-profit standards — Accounts prepared as per ICAI guidelines for not-for-profit entities — Receipts & Payments, Income & Expenditure, and Balance Sheet.
• Donor reporting (10BD/10BE) — Annual donor reporting and issue of donation certificates (Form 10BE) in compliance with amended 80G regulations.
• 85% application rule compliance — Monitoring and documentation of the 85% application of income requirement under the Income Tax Act to protect exempt status.