Author Archives: SRRF

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

Posted on July 11, 2019 by SRRF

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

Posted on July 10, 2019 by SRRF

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

Posted on July 9, 2019 by SRRF

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

Posted on July 6, 2019 by SRRF

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)‎

Posted on July 4, 2019 by SRRF

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

Posted on June 18, 2019 by SRRF

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

Posted on June 13, 2019 by SRRF

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

Posted on June 13, 2019 by SRRF

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

Posted on June 10, 2019 by SRRF

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

Posted on June 7, 2019 by SRRF

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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