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Author Archives: SRRF
Extension of the validity of FCRA registration to 31 March 2023
It is a happy news for all in the NPO Community that MHA has extended FCRA registration validity by six months to 31st March 2023. This is applicable to all those who applied before the due date i.e. before expiring … Continue reading
Posted in FCRA, TAX, LEGAL
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Interest earned on Endowment Fund from FCRA Account
Whether Interest earned on endowment fund from FCRA account can be transferred to other account i.e .INR account(non fcra account) for utilizing the same as written in the contract/agreement. However, in the FCRA return we can show the income earned … Continue reading
Posted in FCRA, TAX, LEGAL
1 Comment
Procedure for making Revision under S.32 now in place
Many organizations who have received adverse order from FCRA and who wish to challenge the same, have little choice except filing a writ petition in the High Court. Going to High Court is both expensive and lengthy, and may not … Continue reading
Posted in FCRA, TAX, LEGAL
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Clarification regarding Form 10 AC, 12 A certificate
Sir, Clarification required regarding Form 10 AC, 12 A Certificate for taking up projects under CSR through Implementing partner NGO. Are these certificates Same or are they different Thanks & Regards CSR officer Mugma AreaEastern Coalfields Limited
Posted in CSR
2 Comments
Treatment of Grant Receipts / Income in ITR and Financial Statements
Dear Members, Some NGO treat ” Grant utilised ” as Grant Receipt/Income in both – Financial statement and in ITR. They do not show Grant Received as Grant receipt/ income. Is it the correct way as per income tax act … Continue reading
Posted in FCRA, TAX, LEGAL
2 Comments
Latest Changes in Compounding of offences under FCRA – 2022
Compounding of offences along with penalties S. No. Offence Penalty Comments, if any 1. Accepting Hospitality without Permission Rs 10,000/- Introduced in 2018, no change in 2022 2. Transfer of FC to a person who does not have FCRA / … Continue reading
Posted in FCRA, TAX, LEGAL
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Major Changes in FCRA Rules – 2022
Qtly disclosure of FC rec’d no longer requiredRule 13 (b) which required that FC rec’d in a quarter needs to be disclosed within 15 days has now been removed from FCRA rules. This means there is no need for publishing … Continue reading
Posted in FCRA, TAX, LEGAL
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Extension of the validity of FCRA registration to 30 September 2022
We are happy to inform you all that Ministry of Home Affairs re-extended the validity of registration certificates of such entity whose validity was extended till 30 June 2022 vide Public Notice dated 24 March 2022 and whose renewal application … Continue reading
Posted in FCRA, TAX, LEGAL
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Can we make FD from FCRA fund in other banks for earning higher interest?
Dear Members, We have received FC fund in SBI FCRA designated accounts. We transferred the fund to FCRA Utilisation account (other bank). Can we be allowed to make FD from FC utilisation Bank accounts in different banks for earning higher … Continue reading
Posted in FCRA, TAX, LEGAL
2 Comments
Can excess FCRA fund be returned back to the donor?
Dear SRRF Team, I am writing to inquire if any excess funds donated to an FCRA account can be transferred back to the donor? I am a foreign citizen who had partnered with an FCRA approved Indian non-profit to implement … Continue reading
Posted in FCRA, TAX, LEGAL
4 Comments