Author Archives: SRRF

Utilization of grants/donations received

Posted on May 2, 2014 by SRRF

Dear Sir I wanted to know if there is any notification /guideline (other than income tax requirements) regarding full utilisation of grants/ donations received by an NGO. This assumes importance in view of the CSR provisions of Companies Act 2013. … Continue reading →

Posted in FCRA, TAX, LEGAL | 1 Comment

Interpretation of Clauses of the CSR Schedule

Posted on April 30, 2014 by SRRF

In regards to interpretation of clauses, if the schedule dealing with CSR – the words cannot be construed to have a narrow meaning. How does an accountant deal with this while he ought to make sure that a CSR head … Continue reading →

Posted in CSR / SSE | 1 Comment

NGO Accounting Software

Posted on April 30, 2014 by SRRF

Following query received from Mr. Udayan Maroo. Kindly provide your responses. Dear friends, Which is the accounting software which like an ERP provides beyond accounting for NGOs? Best Regards. Udayan Maroo

Posted in General | 3 Comments

Is 80-G mandatory to get CSR funds?

Posted on April 28, 2014 by SRRF

Dear Friends, Wish you all Happy Tamil New Year Day. Is 80-G mandatory to get CSR funds by a Voluntary Organisation? V.B.Chandrasekaran, Chatti Mahatma Gandhi Aashramam, Chatti Post, Chinthur Mandal, Khammam District, Andhra Pradesh, Pin Code: 507129

Posted in FCRA, TAX, LEGAL | 8 Comments

Treatment of Interest received

Posted on April 25, 2014 by SRRF

Respected sir/friends Please gave your suggestion on Interest received from FCR Account. Actually as per the directions of the funding agency we transferred the amount from FCR Account to General Account (spl account only for those funding agency) for the … Continue reading →

Posted in FCRA, TAX, LEGAL | 5 Comments

Purpose of Utilisation Account

Posted on April 19, 2014 by SRRF

I have now joined another NGO called “Pratham Books” in Bangalore. They are into developing, publishing & distributing children’s books in various languages and promoting reading habit among children. I have a query in this. We receive grants/donations from various … Continue reading →

Posted in FCRA, TAX, LEGAL | 14 Comments

Changes in online filing of FC-6

Posted on April 19, 2014 by SRRF

Please note that there has been some important changes in online filing of FCRA annual return (FC-6). As per FCRA department, now there is no need to submit hard copy of FC-6 to the ministry, you have to upload scan … Continue reading →

Posted in FCRA, TAX, LEGAL | 1 Comment

Brand Building through CSR – Is it desirable?

Posted on April 9, 2014 by SRRF

Friends, Often there is a debate, particularly amongst the civil society players, whether it is right for corporates to use CSR for brand building. While corporates and policy makers do not see anything wrong in it. Infact some even talk … Continue reading →

Posted in CSR / SSE | 10 Comments

Voluntary Org Registration and renewal

Posted on April 7, 2014 by SRRF

Dear Friends, Fundamental Right to freedom which includes speech and expression, assembly, association or union or cooperatives, movement, residence, and right to practice any profession or occupation (some of these rights are subject to security of the State, friendly relations … Continue reading →

Posted in General | 6 Comments

Whether Foreign travel expenses allowed under IT Act?

Posted on April 3, 2014 by SRRF

Dear SRRF Member, I have query on the topic “Whether Foreign travel expenses allowed under IT Act? One of the auditors says that the foreign travel expense as it is not allowed under section 11 (1). as per IT Act  … Continue reading →

Posted in FCRA, TAX, LEGAL | 1 Comment