80G Registration: It is a provision under the Income Tax Act, 1961 in India that allows nonprofit organizations to provide tax benefits to donors. NGOs need to apply to the Income Tax Department for 80G registration, and upon approval, they receive an 80G certificate to share with donors for tax deductions on their contributions.
12AA Registration: It is the initial registration sought by nonprofits to claim tax exemption on their income. NGOs apply to the Commissioner of Income Tax or the prescribed authority for 12AA registration, and upon approval, they become eligible for income tax exemption.
A Pvt. Ltd. Co. is a separate legal entity from its shareholders, which means it can enter into contracts and own assets in its own name.
It has a perpetual succession, meaning it continues to exist regardless of changes in shareholders
or directors.
A Pvt Ltd Co. is usually managed by a board of directors, which leads to more professional
management.
