Financial Transparency and Responsible Management
Bhagirath Sewa Sansthan is committed to financial transparency and responsible management of its resources. Here's a breakdown of the key aspects of their financial operations:
Management and Oversight:
The managing committee of the Sansthan holds the authority over the organization's income, property, and the operation of various projects and institutions. This ensures accountability and responsible stewardship of resources.
Diversified Funding Sources:
Bhagirath Sewa Sansthan receives grants and aid from a variety of sources, allowing them to sustain their operations and expand their reach. Additionally, they raise funds through fundraising initiatives, loans, and deposits. These diversified funding streams contribute to the organization's financial stability.
Safe and Secure Banking:
The Sansthan maintains its bank accounts with nationalized banks, ensuring the security and proper management of their funds.
Independent Audits:
Bhagirath Sewa Sansthan undergoes annual audits by a chartered accountant appointed by the managing committee. This rigorous auditing process assures financial transparency and accountability.
Timely Filings:
The audited financial statements are submitted to the Income Tax Department on a timely basis, demonstrating Sansthan's commitment to regulatory compliance.
Tax Benefits and Recognition:
Bhagirath Sewa Sansthan is recognized as an ISO 9001:2015 certified institution. They also leverage the benefits available under Section 12-A and 80-G of the Income Tax Department for donations. Additionally, they are registered under the Ministry of Corporate Affairs for CSR activities, making them eligible to receive corporate social responsibility contributions.