Category Archives: FCRA, TAX, LEGAL

Foreign Contribution Regulation Act

Huge relief to FCRA Pentities for late filing of returns

Posted on June 27, 2016 by SRRF

FCRA Dept has come out with a notification No. 1521 dt 16 June 2016 slashing compounding Fees for late filing of the return. As per the new notification, following are the new slabs for the penalties. S. No. Offence Penalty … Continue reading →

Posted in FCRA, TAX, LEGAL | 5 Comments

Foreign Trip for government officials and MPs by a FC registered organisation

Posted on June 27, 2016 by SRRF

Background: We are a foundation established 30 years back and working on health sector on Policy advocacy and knowledge dissemination with women’s right framework being the ultimate motive. Issue: As part of Policy advocacy, the foundation interacts with Government officials, … Continue reading →

Posted in FCRA, TAX, LEGAL | Tagged , , | 6 Comments

Can same project be funded both by FC and Non-FC Funds?

Posted on June 22, 2016 by SRRF

Dear Sir, I have been following up srrf dialogue through a friend of mine. I would be glad to be a member of this group. I am associated with VACHAN, an NGO registered as a society and a trust and … Continue reading →

Posted in FCRA, TAX, LEGAL | 9 Comments

List of foreign donors on Prior Permission of FCRA Dept

Posted on June 21, 2016 by SRRF

FCRA Dept has further increased number of foreign organisations on Prior Permission List, which means that an NGO before receiving funds from these organisations would need to take prior permission from the FCRA Dept. It is likely that bankers may … Continue reading →

Posted in FCRA, TAX, LEGAL | Tagged , | 10 Comments

Applicability of IFRS to S.8 Company

Posted on June 4, 2016 by SRRF

Dear Madam/Sir We are registered under Sec25 of companies act 1956. Kindly let us know whether sec25 company (NGO’s) have to follow internal financial reporting system (IFRS)? If yes, then can you share some format relating to IFRS reporting. Thanks … Continue reading →

Posted in FCRA, TAX, LEGAL | 3 Comments

Marginal Tax Relief: S.12AA registration not to be cancelled

Posted on June 1, 2016 by SRRF

Most of us are aware that charitable institutions functioning under the remainder clause (i.e. advancement of objects of General Public Utility) are always worried that their income from sources which could be treated as from commerce, trade or business should … Continue reading →

Posted in FCRA, TAX, LEGAL | Comments Off on Marginal Tax Relief: S.12AA registration not to be cancelled

Huge reduction in funds under FCRA

Posted on May 30, 2016 by SRRF

As most of the stakeholders associated with Voluntary Sector had been lamenting regarding shrinking of FCRA funds for the Sector. Now this is confirmed. In a press report based on a RTI application filed by NewsLaundry.com, a media portal, it … Continue reading →

Posted in FCRA, TAX, LEGAL | 6 Comments

Applicability of TDS and Service Tax on Project Grants

Posted on May 6, 2016 by SRRF

Dear Dialogue Members, Ours is a Corporate with over 51% of FDI. We also have a registered Foundation. We release project grants through these two sources to local NGOs. What kind of taxation is involved when we release money to … Continue reading →

Posted in FCRA, TAX, LEGAL | 3 Comments

How to deal with erroneous Bank Deposits?

Posted on May 4, 2016 by SRRF

Dear Sir/Madam An FCRA registered organization has erroneously given its FCRA bank account number to a local donor. These funds were to be received as local donation. Effectively, Local  donations are credited to FCRA account (Amounting to Rs.2.88 lacs). What … Continue reading →

Posted in FCRA, TAX, LEGAL | 6 Comments

FCRA Renewal trickling in

Posted on April 29, 2016 by SRRF

Dear Dialogue members, You will all be glad to know that the FCRA department has started issuing FCRA renewal order for 5 years from 1-11-2016. Some NGOs in our area have already received it. Others are awaiting. The order does … Continue reading →

Posted in FCRA, TAX, LEGAL | 6 Comments