Monthly Archives: June 2016

Huge relief to FCRA Pentities for late filing of returns

FCRA Dept has come out with a notification No. 1521 dt 16 June 2016 slashing compounding Fees for late filing of the return. As per the new notification, following are the new slabs for the penalties. S. No. Offence Penalty … Continue reading

Posted in FCRA, TAX, LEGAL | 5 Comments

Foreign Trip for government officials and MPs by a FC registered organisation

Background: We are a foundation established 30 years back and working on health sector on Policy advocacy and knowledge dissemination with women’s right framework being the ultimate motive. Issue: As part of Policy advocacy, the foundation interacts with Government officials, … Continue reading

Posted in FCRA, TAX, LEGAL | Tagged , , | 6 Comments

Lokpal Compliance by NGOs

Procedure to be followed by office bearers of NGOs to comply with latest amendments under The Lokpal & Lokayuktas Act 2013 The Lokpal & Lokayuktas Act 2013 was one of the last legislation enacted by UPA Government  before demitting office … Continue reading

Posted in Accountability | 8 Comments

Can same project be funded both by FC and Non-FC Funds?

Dear Sir, I have been following up srrf dialogue through a friend of mine. I would be glad to be a member of this group. I am associated with VACHAN, an NGO registered as a society and a trust and … Continue reading

Posted in FCRA, TAX, LEGAL | 9 Comments

List of foreign donors on Prior Permission of FCRA Dept

FCRA Dept has further increased number of foreign organisations on Prior Permission List, which means that an NGO before receiving funds from these organisations would need to take prior permission from the FCRA Dept. It is likely that bankers may … Continue reading

Posted in FCRA, TAX, LEGAL | Tagged , | 10 Comments

Applicability of IFRS to S.8 Company

Dear Madam/Sir We are registered under Sec25 of companies act 1956. Kindly let us know whether sec25 company (NGO’s) have to follow internal financial reporting system (IFRS)? If yes, then can you share some format relating to IFRS reporting. Thanks … Continue reading

Posted in FCRA, TAX, LEGAL | 3 Comments

Backward Integration – Is it really CSR?

Dear All, Over a million hectare of Tribal lands are in virtual occupation of ITC in Andhra Pradesh, Telangana and elsewhere. They are doing this under CSR ? This backward integration is part of business and is being pushed under … Continue reading

Posted in CSR | 1 Comment

Marginal Tax Relief: S.12AA registration not to be cancelled

Most of us are aware that charitable institutions functioning under the remainder clause (i.e. advancement of objects of General Public Utility) are always worried that their income from sources which could be treated as from commerce, trade or business should … Continue reading

Posted in FCRA, TAX, LEGAL | Comments Off on Marginal Tax Relief: S.12AA registration not to be cancelled