Category Archives: FCRA, TAX, LEGAL

  SC provides clarity on ‘Charitable Purpose’ under S.2(15) on clause relating to General Public Utility   Asst. CIT (E) v Ahemdabad Urban Development Authority 2022 (143 taxmann.com 78 (SC) ~ Order dt 3-11-2022)   SC has clarified law relating … Continue reading →

—Socio Research & Reform Foundation (NPO)                       512 A, Deepshikha, 8 Rajendra Place,New Delhi – 110008.

As we all know, FCRA rule 17 requires that every FCRA registered NPO must submit Financial Statements of Balance Sheet, Income & Expenditure and Receipt & Payment alongwith the Annual return (FC4). Generally most NPOs submit FCRA financial statements, however … Continue reading →

As per latest FAQ issued by FCRA Dept., a company incorporated in India will not be treated as ‘foreign source’, even if it has operations in more than two countries. To see latest FAQs please visit https://fcraonline.nic.in/home/PDF_Doc/fc_faq_04102022.pdf It may be … Continue reading →

CBDT has extended the last date for filing of audit report of Charitable Organization (NPO)  for the AY: 2022-23 to 7th October 2022. Earlier it was to be filed by 30th September. (click here for CBDT Notification) —Socio Research & … Continue reading →

It is a happy news for all in the NPO Community that MHA has extended FCRA registration validity by six months to 31st March 2023. This is applicable to all those who applied before the due date i.e. before expiring … Continue reading →

Whether Interest earned on endowment fund from FCRA account can be transferred to other account i.e .INR account(non fcra account) for utilizing the same as written in the contract/agreement. However, in the FCRA return we can show the income earned … Continue reading →

Many organizations who have received adverse order from FCRA and who wish to challenge the same, have little choice except filing a writ petition in the High Court. Going to High Court is both expensive and lengthy, and may not … Continue reading →

Dear Members, Some NGO treat ” Grant utilised ” as Grant Receipt/Income in both – Financial statement and in ITR. They do not show Grant Received as  Grant receipt/ income. Is it the correct way as per income tax act … Continue reading →

Compounding of offences along with penalties S. No. Offence Penalty Comments, if any 1. Accepting Hospitality without Permission Rs 10,000/- Introduced in 2018, no change in 2022 2. Transfer of FC to a person who does not have FCRA / … Continue reading →