Author Archives: SRRF

Can we (FCRA Body) manage schools with no FCRA? ‎

Sir, ‎ A Society with FCRA Registration for EDUCATION PURPOSES wants to create Education infrastructure with its own ‎‎/ FCRA funds and manage and run Education Institutions thro’ No FCRA Registration – Charitable Organisation. No ‎transfer of assets. Is it … Continue reading

Posted in FCRA, TAX, LEGAL | 2 Comments

Budget Amendments – 12A to be cancelled in case of non-compliance with all laws

Finance Bill has now empowered Income Tax authorities to not grant 12A registration of a Charitable Entity or cancel the same, if already granted, in case it transpires that the entity has not complied with any specific law which is … Continue reading

Posted in FCRA, TAX, LEGAL | 3 Comments

Reduces the Rate of ESI Contribution from 6.5% to 4%

The Government of India has taken a historic decision to reduce the rate of contribution under the ESI ‎Act from 6.5% (4.75% +1.75%) to 4% (3.25%+0.75%). Employers’ contribution being reduced from ‎‎4.75% to 3.25% and employees’ contribution being reduced from … Continue reading

Posted in FCRA, TAX, LEGAL | 2 Comments

No Ease of Poverty Alleviation for non-profits

Dear Friends,‎FCRA allows FDI NOT FOR PROFIT.‎ Foreign fund through NGOs is FDI for poverty alleviation through development and jobs without ‎profit motive.Hence FCRA rules and regulations should enhance ease of doing development work ‎aimed at alleviating poverty. Related laws … Continue reading

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Difference in a Trust & Foundation

Dear Member, My company is desirous to open a trust / foundation. The main objective will be to procure and pass on grants/donations to women who are engaged in the manufacture of carpets. This foundation will then procure those carpets … Continue reading

Posted in FCRA, TAX, LEGAL | 2 Comments

Social Stock Exchange – Announcement by Finance Minister

Finance Minister promises to introduce Social Stock Exchanges in the country. As part of the presentation of the Union Budget 2019, Finance Minister Nirmala Sitharaman announced a plan to create a social stock exchange for social enterprises and voluntary organisations. … Continue reading

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Latest on Updating Changes of Trustees (Form FC-6E)‎

As many of you know that FCRA Dept has come out with a public notice requiring all NGOs who are registered under FCRA or have prior permission to update details of its office bearers/key functionaries online by 7th July 2019. … Continue reading

Posted in FCRA, TAX, LEGAL | 4 Comments

Refund of Unutilized Foreign Remittance

Our organization is a trust registered under Foreign Contribution (Regulation) Act 2010. We received funding from an organization outside India for a specific project. Actual expenditure was less than projected, and the said organization outside India requires that all unutilised … Continue reading

Posted in FCRA, TAX, LEGAL | 7 Comments

Prior Permission based Cash Flow Plan

Dear Friends, Prior permission letters specify number of and amount of each instalment to which Bank Managers decide to stick. Project holders seek funds based on action plan dictated by the seasons and community preparedness and convergence possibilities Bank’s insistence … Continue reading

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LATEST ON FORM CHANGES TO UPDATE CHANGES IN TRUSTEES

MHA has now brought separate Forms FC6 for different aspects. These are FC-6A (Change of Name & Address), FC-6C (Changes in Designated bank account), FC-6D (Addition / Changes in Utilisation bank account) & FC-6E (Changes in Trustees / key functionaries). … Continue reading

Posted in FCRA, TAX, LEGAL | 1 Comment