Monthly Archives: March 2014

Applicability of RTI to NGOs?

Posted on March 28, 2014 by SRRF

Respected sir Greetings HELP is a NGO working in coastal AP. Recently we received a notice from one person under RTI Act 2005. He asking our about details of funds received from and spending details including each beneficiary name and … Continue reading →

Posted in FCRA, TAX, LEGAL | 6 Comments

Payment to foreign consultant

Posted on March 27, 2014 by SRRF

Dear Friends, I have a query on payment of professional fee to a foreign consultant for work done in India: 1. Can this payment be made? 2. What is the procedure for the payment in India? 3. What would be … Continue reading →

Posted in FCRA, TAX, LEGAL | 2 Comments

Structure of PAN

Posted on March 19, 2014 by SRRF

Dear Friends, Greetings from Hyderabad! I have come across many organizations which are registered as Societies but the PAN is reflecting the organizations as Trusts. This is based on the 4th letter in the PAN. In case of online filing, … Continue reading →

Posted in FCRA, TAX, LEGAL | 3 Comments

Highlights of the Final CSR Rules Notified

Posted on March 14, 2014 by SRRF

Further to the last post, which explained activities covered in Schedule VII. In this post, highlights are given of the final CSR Rules. ENTITIES COVERED All companies whether a public company or a private one are covered by CSR, if … Continue reading →

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Panchayath, Foreign Funds and Participatory Democracy

Posted on March 12, 2014 by SRRF

Dear All, Can A Panchayath receive Foreign Funds as Grants without any FCRA or such registration? Can A Panchayath receive Foreign Funds as Loan without any FCRA or such registration? The New Legislation on Multi State Societies and even the … Continue reading →

Posted in FCRA, TAX, LEGAL | 4 Comments

Comparative Analysis of New Schedule VII and Old Schedule VII

Posted on March 11, 2014 by SRRF

CSR provisions of new Companies Act have been notified and will become effective 1st April 2014. Thus all companies who qualify for CSR based on accounts of Mar’14 would be required to comply with CSR provisions. A company once qualifies … Continue reading →

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Treatment of money deposited during opening of the FCRA account?

Posted on March 10, 2014 by SRRF

Dear Sir Greetings ! Can anyone suggest me on the following: Our total FC fund includes some amount which belongs to our own. It means it includes the minimum balance in FC Bank account when opened and cumulative interest there … Continue reading →

Posted in FCRA, TAX, LEGAL | 1 Comment

Can a Donor take over assets purchased from grant funds

Posted on March 1, 2014 by SRRF

Dear Sir, We are a principal recipient of foreign funds and we have given sub grants to some organization.Out of the subgrant money , the subgrantee have purchased several assets which includes Furniture and equipment. As part of the contract … Continue reading →

Posted in FCRA, TAX, LEGAL | 5 Comments