Author Archives: SRRF

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

Posted in FCRA, TAX, LEGAL | 2 Comments

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

MANDATORY SUBMISSION OF FORM FC-6E FOR CHANGES IN TRUSTEES / KEY ‎FUNCTIONARIES

Home Ministry has now come with a notice requiring all registered NGOs to update all changes in office bearers. Till now Rule 17A required that any change shall be intimated electronically online, within fifteen days, The Rule covered several aspects … Continue reading

Posted in FCRA, TAX, LEGAL | 4 Comments

Creation of Minority Trust

I had attended one workshop on NGO conducted by your organisation. I have a Charitable trust registered under Bombay Public Trust Act. It is from Pune. We are 3 trustees all Hindu. Kindly let me know how I can convert … Continue reading

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RESOURCE MOBILISATION – DONATIONS

DONATIONS In the 2nd part on this series of Resource Mobilisation, lets focus on Donations, second most (if not the first) popular form of income of NGOs. One can say donations are birth right of a non-profit and hence should … Continue reading

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RESOURCE MOBILISATION – GRANTS

Taking a cue from Mr Mathew Cherian’s Vijay Sardana Memorial Lecture, we start a series of short discussion points on Resource Mobilisation for Non-Profits. We start with one of the most popular resource, GRANTS. I don’t need to discuss much … Continue reading

Posted in FCRA, TAX, LEGAL | 2 Comments