Gaurav Srivastava & Associates

The Procedure for 80G/ 12A registration of NGO/ Charitable Trust/ Institution under section 12A, section 12AA and Section 80G which will facilitate NGO/ Charitable Trust/ Institution to avail income tax exemption benefits. A non­governmental organization (NGO) that is neither a part of a government nor a conventional for­ profit business. Usually set up by ordinary citizens, NGOs may be funded by governments, foundations, businesses, or private persons. NGOs are highly diverse groups of organizations engaged in a wide range of activities, and take different forms in different parts of the world. Some may have charitable status, while others may be registered for tax exemption based on recognition of social purposes. Others may be fronts for political, religious or other interest groups. Both Applications can be applied together or it can also be applied separately also. If some organization is willing to apply both applications separately, then application for registration u/...

INTERNAL AUDIT Internal Audit in India : A Proactive Initiative. ...   Internal audit   is an independent function of management which entails the continuous and critical appraisal of the functioning of an entity, with a special focus on possible areas for improvement and how to strengthen and add value to an entity's governance mechanisms. Internal audit is a review of operations and records undertaken within a business by specially assigned staff. It is a post-transaction review to evaluate the correctness of records and the effectiveness of operations on a continuous basis in an organization by the paying staffs. The term 'internal audit' has been defined as the independent appraisal of activity within an organization for the review of accounting, financial and other business practices as a protective and constructive arm of management. It is a type of control which functions by measuring and evaluating the effectiveness of other types of controls. Inter...

The Food Safety and Standards Authority of India (FSSAI) FSSAI has been created for laying down science based standards for articles of food and to regulate their manufacture, storage, distribution, sale and import to ensure availability of safe and wholesome food for human consumption. Benefits : 1.       Single point access to all laws and departmental controls. 2.       FSSAI as a single reference point for all matters relating to Food Safety and Standards, Regulations and Enforcement 3.       High degree of consumer confidence in quality & safety of food 4.       A single license by the Licensing Authority for one or more articles of food and for different establishments or premises in the same local area Penalties: Penalty for selling food not of the nature or substance or quality demanded. not exceeding five lakh rupees. Penalty for sub...