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How Recent Policy Changes Are Affecting NBFC Account Aggregators

Recent policy changes are reshaping the landscape for NBFC account aggregators, introducing new standards and opportunities in the financial sector. These changes are aimed at enhancing transparency, security, and operational efficiency within the industry. https://corpbiz.io/nbfc-account-aggregator-license

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How Recent Policy Changes Are Affecting NBFC Account Aggregators

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  1. Corpbiz WHAT ARE THE BENEFITS OF 12AB REGISTRATION? 12AB registration offers significant advantages to charitable and religious organizations in India, enhancing their operational and financial capabilities. This registration provides tax exemptions on income, allowing organizations to allocate more funds towards their charitable activities. Additionally, donors receive tax deductions under sections like 80G, incentivizing contributions and boosting fundraising efforts.

  2. Section 12AB was introduced to provide an electronic database. To Remove Odds from Old Trusts The trust registered under the old section however have misplaced their registration number, nor the Income Tax Department have any records of the same. By introducing Section 12AB, the work will be done electronically.

  3. Organizations registered under section 12AB of the Income Tax Act, 1961, are eligible for tax exemption on their income. Tax Exemption 12AB registration grants legal recognition to the charitable or religious organization. Legal Recognition Having 12AB registration enhances the trustworthiness of the organization among donors, beneficiaries, and stakeholders. Enhanced Trust and Credibility egistered government grants and funding opportunities aimed at supporting charitable and social welfare activities organizations may qualify for Access to Government Funding By obtaining 12AB registration, organizations can ensure long-term sustainability through consistent funding Long-Term Sustainability

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