Category Archives: FCRA, TAX, LEGAL

Dear Sir, If a Funding Agency based in India gives Donation to us in our FCRA Account, since the source of Funding is Foreign based. The transfer of money will be from their FC Account to our FC Account through RTGS. Do we … Continue reading →

For last week or so, media, both print as well as electronic, has been abuzz with how Indian NGOs are trying to sabotage the Indian economy by decelerating economic pace, as if they are the neo Jaichands in the new … Continue reading →

Dear All, In case of FCRA, the authorities insist on applying in form FC-3 in case the registered office is shifted from one district to another or to another state to validate the changes. This may be on account of … Continue reading →

Hello Sir, We have received a cheque in USD from a foreign donor on 14/03/14 and have deposited the same in our FCRA Account on 14/03/14. But the cheque got credited in our Bank Account on 02/04/14. Since, Financial Year … Continue reading →

Dear Friends,   Can Designated Bank (FC bank account) receive Indian Currency through Western Union, say for example From Canada to India?   Looking froward to hearing from you all.   Ajaya 

Dear All, Greetings from Hyderabad! Can the own funds of the NGO be converted into Corpus Fund based on the decision of the BoT/GB? Thanks and regards, — B V Soma Sastry

Dear All, Greetings from Hyderabad! This is with reference to the 85% utilization as per the provisions of the IT Act. My query is as under: There are certain projects for which funds are not received in the FY as … Continue reading →

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 →

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

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 →