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Author Archives: SRRF
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
Posted in RESOURCE MOBILISATION
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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
Posted in FCRA, TAX, LEGAL
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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
Posted in FCRA, TAX, LEGAL
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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
Vijay Sardana Memorial Lecture May 6, 2019
Summary of the lecture by Mathew Cherian Is financial viability of the Voluntary Sector a mirage? The way forward PART-III ACCOUNTABILITY AND TRANSPARENCY We need to open our financials to scrutiny to the smallest donor, reporting bodies and to be … Continue reading
Posted in FCRA, TAX, LEGAL
4 Comments