Category Archives: FCRA, TAX, LEGAL

Foreign Contribution Regulation Act

Donation of old computers by an MNC to an NGO not having FCRA

Posted on February 1, 2017 by SRRF

Dear Members of the SRRF dialogue group, There is one NGO “Computer Shiksha” based in Gurgaon who collect old / used computers which they retrofit (if necessary) and place in Govt schools for providing Computer education to students coming from … Continue reading →

Posted in FCRA, TAX, LEGAL | 10 Comments

Procedure for creating Endowment Fund

Posted on January 24, 2017 by SRRF

Dear Friends, Season’s Greetings and Happy New year! Please let me know the procedure for creating Endowment fund and related statutory / legal requirements to be followed / fulfilled by the NGO and the foreign and Indian donors. Thanks Udayashankar

Posted in FCRA, TAX, LEGAL | 2 Comments

Can FCRA funds be transferd to Sec-8 company

Posted on January 21, 2017 by SRRF

Dear Members, I represent a funding organisation which is a registered public charitable trust, I want to know whether we can make a grant to Sec 8 company? I also wanted to know whether Sec 8 Company(Earlier Sec 25 A) … Continue reading →

Posted in FCRA, TAX, LEGAL | 2 Comments

Funds collected out side India

Posted on January 11, 2017 by SRRF

Dear Sir/Madam, I am a member of a Society,registered public trust in India. Some members of the Society, have collected funds in US and Netherlands Accounts ,for a building renovation project in India. However,they are not transferring the accumulated amount … Continue reading →

Posted in FCRA, TAX, LEGAL | 2 Comments

Bank Charges

Posted on December 28, 2016 by SRRF

The bank charged for issuing FIRC certificates but debited other bank account in the same branch being maintained for Local Fund. NGO may consider the Bank Charges as Administrative Expenses under either source category. Comments. CA, Satish Joshi

Posted in FCRA, TAX, LEGAL | 4 Comments

Which type of bank account to be opened for FCRA purpose.

Posted on December 17, 2016 by SRRF

Dear Members, Please clarify, if saving bank account can be opened for FCRA purpose. Wg Cdr Anil.Kr. Marya ( Retd) Project Executive, ‘Education for Livelihood’ Rotarys’ Kusumpur Community Service Project & IP-President RWA ‘Mayuri-Enclave’

Posted in FCRA, TAX, LEGAL | 6 Comments

Are separate FC-4 returns required for Prior Permission & Registration?

Posted on December 14, 2016 by SRRF

Dear Sir, Need clarification on filing of FCRA return for a NGO got the fund on various prior permissions till August, 2016 and in Sep 2016 NGO got the FCRA registration and got the fund under FCRA registration. We need … Continue reading →

Posted in FCRA, TAX, LEGAL | 1 Comment

How to become All India Level Society from Single State Society?

Posted on December 14, 2016 by SRRF

Dear Esteemed Members Greetings from New Delhi! You are requested to guide me in the following matter: Facts of Case 1. Existing Charitable Society registered in New Delhi under Societies Registration Act 1860. 2. 12A & 80G Registration obtained under … Continue reading →

Posted in FCRA, TAX, LEGAL | 4 Comments

Requirement for filing return under Lokpal postponed (indefinitely ?)

Posted on December 9, 2016 by SRRF

Dept of Personnel & Training, nodal Dept for Lokpal has come out with an Office Memorandum dt 1 Dec 2016 stating that ‘there is no requirement for filing of declarations of assets and liabilities by public servants now’. Following conclusions … Continue reading →

Posted in FCRA, TAX, LEGAL | Tagged , | 1 Comment

Cash Deposits by NGOs under demonetisation

Posted on December 1, 2016 by SRRF

Present Income Tax Act 1961 has provided for tax treatment of anonymous donations as per Sec. 115BBC. Here the term is anonymous donations and this is different from cash donations. In case an NGO has received Cash donations, our suggestions are … Continue reading →

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