Author Archives: SRRF

FCRA Queries

Posted on April 21, 2022 by SRRF

Sir, I would like to receive clarification for the below points: a)        As a society having FCRA registration can we help other Institutions ( not belonging to us or neither registered with FCRA) acquire assets like Computers, Vehicle etc., … Continue reading →

Posted in FCRA, TAX, LEGAL | 1 Comment

Mandatory compliance requirements postponed

Posted on April 1, 2022 by SRRF

Accounting Software with Audit Trail: All companies are now required to maintain accounting system, which has audit trail. The Govt. has amended Companies (Audit & Auditors) Rules 2014. Requirement, which the companies were earlier required to comply effective 1-4-2022, now … Continue reading →

Posted in CSR | 1 Comment

Tax provisions likely to impact accounting systems for Non-profits

Posted on March 29, 2022 by SRRF

Accounting Software with Audit Trail: All companies are now required to maintain accounting system, which has audit trail. The Govt has amended Companies (Audit & Auditors) Rules 2014. In the proviso for Rule 3(1) it has stated that effective 1st … Continue reading →

Posted in FCRA, TAX, LEGAL | 1 Comment

FCRA Renewal extended yet again

Posted on March 25, 2022 by SRRF

FCRA Renewal has been again extended to 30th June 2022. A sigh of relief from the tension, that many of the NGOs who have been waiting endlessly for their renewal process to be completed, however the Dept. is yet to … Continue reading →

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CSR Form 2  – Key Requirements explained

Posted on March 24, 2022 by SRRF

Filing Dates Form for FY 2020-21 has to be filed by 31st March 2022 separately as an online web Form. Form for subsequent years has to be filed as an addendum to Form AOC-4/AOC-4 XBRL/AOC-4 NBFC (Ind AS), as per … Continue reading →

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Tax Advise needed

Posted on March 9, 2022 by SRRF

A society registered under society act is running a educational institution.It is not yet registered under Sec 12A of Income tax act. In f y 2020-21 its revenue fee receipts from school are less than 1cr and after claiming all … Continue reading →

Posted in FCRA, TAX, LEGAL | 1 Comment

New CSR Reporting Format (Form CSR-2) : Last date 31-3-2022

Posted on March 5, 2022 by SRRF

Ministry of Corporate Affairs has come out with a new Form called CSR-2, vide Notification dated 11 Feb 2022.  This Form basically covers all reporting requirements. Earlier these were mentioned in the report, and it was expected that this report … Continue reading →

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Extension of timelines for filing of ITR and various reports of audit for the AY: 2021-22

Posted on January 12, 2022 by SRRF

CBDT has extended the due date for the filing of various reports of audit under the provisions of the Income-tax Act,1961 (Act), in respect of the following compliances: The due date of furnishing of Report of Audit (Form 10B) forNPOs … Continue reading →

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Can FCRA expenses be reimbursed to Non-FCRA A/cs?

Posted on January 6, 2022 by SRRF

Dear Sir,   We have following queries regarding FCRA : 1. Can advances be given to Project staff for expenses to be incurred in the field, If not, what is the remedy when the expenses can not be paid directly … Continue reading →

Posted in FCRA, TAX, LEGAL | 6 Comments

FCRA Registration Date extended

Posted on December 31, 2021 by SRRF

We are so happy to inform all of you all that Ministry of Home Affairs has extended the validity of FCRA registration certificates to 31st March 2022. It is applicable to all those entities whose registration initially was due to … Continue reading →

Posted in FCRA, TAX, LEGAL | 3 Comments