Category Archives: FCRA, TAX, LEGAL

Foreign Contribution Regulation Act

Comparative State-wise analysis of FCRA receipts for FY 2013-14

Posted on February 16, 2015 by SRRF

Based on data available at FCRA site, SRRF has undertaken an analysis of FCRA returns. This shows following state-wise position of Foreign Contribution received. Total contribution received is Rs 12,930 crores for FY 2013-14. This compares to Rs 11,066 crores … Continue reading →

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Rejection of S.10(23C) no ground for cancellation of S.12AA registration – Court decision

Posted on February 13, 2015 by SRRF

A series on Impact on Taxation of NPOs due to hardening of tax authorities’ attitude …..(2) Facts In today’s series we bring out a case where Varanasi Catholic Education Society’s registration under S. 12AA was cancelled on the ground that … Continue reading →

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Is FCRA needed for “Gram Panchayaths” to get foreign funds?

Posted on February 12, 2015 by SRRF

Dear Friends,                                    Is FCRA needed for “Gram Panchayaths” to get foreign funds? As a corollary is FCRA needed for any local body to … Continue reading →

Posted in FCRA, TAX, LEGAL | 8 Comments

Is it necessary to have original FCRA letter?

Posted on February 9, 2015 by SRRF

Greetings from AMIN trust Chairman Dear friends May you please write to me regarding FCRA permission letter from MOHA. We have registered trust from DELHI and had applied for FCRA  on 19th April 2014. It was November we went to … Continue reading →

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Cancellation of S.80G certificate – Court decision

Posted on February 9, 2015 by SRRF

A series on Impact on Taxation of NPOs due to hardening of tax authorities’ attitude……(1) We are increasingly finding situations where the Dept. is denying charitable status to various running NGOs by cancelling S.12AA & S.80G. We start a series … Continue reading →

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Is section 50C applicable while calculating net consideration u/s 11(1A)?

Posted on January 24, 2015 by Rahul

As per section 50C of income tax act, if the consideration receivable on transfer of land and building is lower than the stamp duty value than such stamp duty value is to be considered as consideration for calculation of capital … Continue reading →

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Ten FC Donors Under Prior Permission

Posted on January 21, 2015 by SRRF

For quite some time, Indian banks have been asked by RBI to refer some international remittances to FCRA Wing. The RBI has now issued a general circular on this. Remittances from following donors are subject to prior-approval from Ministry of … Continue reading →

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Is Income tax Paid treated as application of Income?

Posted on January 17, 2015 by Rahul

As per section 11 of the income tax act, an organization is required to apply 85% of total receipts during the year. However it couldn’t be applied during time limits mentioned in the relevant section of the act and accordingly … Continue reading →

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Do any organization is required to file returns if it has received FCRA funds by Prior permission/ prior approval?

Posted on January 15, 2015 by SRRF

Do any organization is required to file returns if it has received FCRA funds by Prior permission/ prior approval? Shekar

Posted in FCRA, TAX, LEGAL | 3 Comments

Relief to NGOs – a decision by Chennai Income Tax Tribunal

Posted on January 14, 2015 by SRRF

Recently Chennal Income Tax Tribunal has given a judgement reversing the Income Tax Dept.’s order of cancelling an NGO’s (SAE India) section 12A registration because it has crossed the threshold limit of income (currently Rs 25 lakhs) under S. 2(15). … Continue reading →

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