Changes in Bank Branch

Dear Memebrs,

I wish to have a clarification on the following:

We have a FCRA account with UCO Bank, Abids Circle Branch, Hyderabad. But the branch does not deal with Foreign exchange. UCO Bank, Banjara Hills branch deals with foreign exchange and transfers to our account get routed through it.

Due to core banking, our account number will remain the same even if we get our account transferred to Banjara Hills branch. Can we get the account shifted to Banjara Hills branch without the formal approval of Ministry of Home affairs or do we require its approval?

Regards,
Ramamohan Rao Kakani
Secretary
BREAD Society,

Posted in FCRA, TAX, LEGAL | 9 Comments

Applicability of Service Tax on the assessment provided by the various organisations to the schools for assessing their students?

Dear Sir,

Can you please clarify if service tax is applicable on assessments that are being provided by the various organisations to the schools for assessing their students?

The latest circular states :

(i) Education:
At present, all services provided by educational institutions [providing educational services specified in the negative list] to their students, faculty and staff are exempted [section 66 D (l) of the Finance Act, 1994]; this will continue. However, in respect of services received by such educational institutions, presently, exemption is being operated through the concept of „auxiliary educational services‟ [Sl.No.9]. Doubts have been raised and clarifications have been sought regarding the scope and meaning of „auxiliary educational services‟. To bring clarity, it is proposed to omit the concept of „auxiliary educational services‟ and specify in the notification, the services which will be exempt when received by the eligible educational institutions. Accordingly, the following services received by eligible educational institutions are exempted from service tax: (i) transportation of students, faculty and staff of the eligible educational institution; (ii) catering service including any mid-day meals scheme sponsored by the Government; (iii) security or cleaning or house-keeping services in such educational institution; (iv) services relating to admission to such institution or conduct of examination. Further, for the purposes of this exemption, „educational institution‟ is being defined in the exemption notification 25/2012-ST as institutions providing educational services specified in the negative list.

It may be noted that the scope of exemption remains the same as earlier in the case of services provided by eligible educational institutions; in the case of services received by the eligible educational institutions, exemption will be available only in respect of the services specified as above.

Thanks
Ratna

Posted in FCRA, TAX, LEGAL | 2 Comments

Can Section 8 Companies have shareholders?

Dear Friends,

Please let me know if Section 8 Companies can have shareholders? If yes, please update me on the related aspects.

Thanks and regards,


B V Soma Sastry

Posted in FCRA, TAX, LEGAL | 12 Comments

IT return filing for Trusts

Dear sir/madam,

Pl include my following queries in your group mail so we get the answers needed.
1. Is it now still valid and mandatory to get a Digital Signature for filing IT returns for a Charitable Trust?
2. If yes, who can help us get this digital signature?
3. Whether CA only has to file IT returns or Trusteed/Trust can do the same, whether online or submit hard copy offline??
4. We need someone to help us file this year’s and previous year’s IT returns for our Trust as well as auditing of accounts annually.

We are based in Thane.

Thanks and blessings,
Sincerely,

A.Othniel, President
Calvary Centre Trust,
Thane
98920 93534.
www.calvarycentre.in

Posted in FCRA, TAX, LEGAL | Comments Off on IT return filing for Trusts

Tax Implications on working as a contractor

Dear Members,

SKG Sangha is an NGO working in the fields of sustainable energy, sustainable agriculture and waste management. As party of our projects, a software company has come forward to fund one of our energy projects. Whereas the company wants to give us the funds as a contractor. Once the funding company the NGO as a contractor for implementing the development project they have to deduct TDS. What are the tax matters involved in such a case?

Regards,
Vidya Sagar Devabhaktuni
President, SKG Sangha
#532, 2nd Main Road, Gandhi Nagar,
KOLAR – 563 101
Karnataka State, INDIA

Posted in FCRA, TAX, LEGAL | 5 Comments

Foreign Interns

Dear Network members,

We are an NGO working in the fields of sustainable energy, agriculture and waste management. A boy of 16 years from Korea is showing interest to come to India for a two months internship at our organisation. The question is whether can we take minors as interns?

Regards,
Vidya Sagar Devabhaktuni
President, SKG Sangha
#532, 2nd Main Road, Gandhi Nagar,
KOLAR – 563 101
Karnataka State, INDIA

Posted in General | 6 Comments

Applicability of Service Tax on Conducting Workshops

Dear Members,

We are a section 25 company, having 80G and 12A exemptions, we have been asked by NACO to technically support and organize two workshops on given themes, and NACO had directed us to reimburse the amount with 10% organizational fee, please advise us can we charge service tax on this or we may be exempted from service tax.

Regards
Neeraj Kumar Sinha
____________________________________________________
Neeraj Kumar Sinha |Finance & Administrative Officer
H-5(Ground Floor), Green Park Extension | New Delhi, India 110016

Posted in FCRA, TAX, LEGAL | 2 Comments

Latest news on FCRA Renewal

This is to bring to all SRRF Dialogue members attention that there is finally some movement on pending FCRA renewal applications.

Today SRRF received an intimation from senior FCRA official informing us that FCRA renewal process is likely to be initiated in Nov’2015. This is good news for all those waiting for some news on FCRA renewal.

However we still are not aware of the process to be followed. There are many questions in the mind of agencies who have applied for FCRA renewal, like whether it will be an online process, if so whether fresh applications would need to be filed. What would happen to all the hard work done in preparing the past applications, etc.

While welcoming the Dept’s initiative in intimating about future plan for renewal of FCRA applications, however we do request the Dept to provide further clarity on the process too.

___________________________________
Socio Research & Reform Foundation (NGO)
512 A, Deepshikha, 8 Rajendra Place, New Delhi – 110008
e-mail: socio-research@sma.net.in

Posted in FCRA, TAX, LEGAL | 19 Comments

FCRA Renewal

Dear All

We have registered Trust under FCRA since 1999. As per rule we have already apply for FCRA Renewal on 29 Apr 2015, but till date not receive any intimation or letter from FCRA division. My question is what we do for the same? I have mailed to FCRA division but not received any reply. Please suggest where we know the application status?

Regards
Sunil K Suryavanshi

Posted in FCRA, TAX, LEGAL | 7 Comments

Service Tax on Donations

Dear Members,

I have another question on applicability of Service Tax

Some organisations create Chairs after the donors name eg. ICRIER has a chair called Infosys Chair for …..

Could you advise treatment of such donations ? Service tax ?

Best,
Wikky Katyal

Posted in FCRA, TAX, LEGAL | 1 Comment