Category Archives: FCRA, TAX, LEGAL

Foreign Contribution Regulation Act

FCRA procedure to be adopted, to remove Trustees as per new ACT

Posted on February 20, 2012 by SRRF

Dear SRRF Dialogue members, We have received a query under FCRA from, Mr. A.C. Sridharha, Akshara Foundation ‘’In our organization, around 50% of the trustees who hardly attend BOT meetings will be replaced. Please let me know what procedure we … Continue reading →

Posted in FCRA, TAX, LEGAL | 4 Comments

Transfer of fund outside India by NGOs

Posted on January 20, 2012 by SRRF

Hi, Is there any Law enforced in India which prohibits  NGO based in India to make grant/contribution for a project to a foreign  individual or to an organization  of a foreign country? Looking forward to your response. Shekar IFA

Posted in Foreign Funding | 1 Comment

Renewal of 80G / 35AC

Posted on January 20, 2012 by SRRF

I am informed that the Government of India has recently come out with a notification stating that the 80 G / 35 AC tax exemption certificate is not required to be renewed periodically. Please advise as some of our partner … Continue reading →

Posted in FCRA, TAX, LEGAL | 3 Comments

TDS implication of a foreign national

Posted on January 19, 2012 by SRRF

Dear All, I would like to know the TDS implication of a foreign national who doesn’t have PAN under the following categories. 1.       A foreign national who have joined an organization under PROFESSIONAL FEE, what will be the TDS impact? … Continue reading →

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ACCOUNTING FOR GRANTS

Posted on January 7, 2012 by SRRF

Dear friends, May I raise a related but different question for expert advice? Grants need not be shown in the Balance Sheet excepting in Income and Expenditure Statement. That way one can legally circumvent the tax and or ceiling limitations … Continue reading →

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Query: Is it ok, if we deposit the loan amount received from the field staff in the FCRA bank account

Posted on January 5, 2012 by SRRF

Hello Every one, I have a question, regarding the amount to be deposited in the FCRA bank account. When we give advance or Loan to the field staffs from FCRA bank account and when they repay this amount, we need … Continue reading →

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Query: Funds transfer from FCRA accounts.

Posted on January 5, 2012 by SRRF

We are sec 25 and 12 A registered and have FCRA certificate. We have been given a grant to manage the Project in partnership with the donor. There would be 10 NGO’s from sector and 20 employees of the donor. … Continue reading →

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TDS Query

Posted on December 30, 2011 by SRRF

Dear all My office has given one contract agreement to an architecture for doing some renovation work costing around Rs 6 lakh. So whether this should be a contract agreement or consultancy agreement as Architecture are treated as professionals. what … Continue reading →

Posted in FCRA, TAX, LEGAL | 10 Comments

FCRA funds to Self Help Groups

Posted on December 23, 2011 by SRRF

Dear SRRF Friends, 21st December 2011 May I seek the opinion or correct position regarding prior permission as per the recently amended FCRA. I am closely associated with few organisations working with HelpAge India. These organisations are managing Elderly Self … Continue reading →

Posted in FCRA, TAX, LEGAL | 10 Comments

Preparing Annual Return (FC3) – Your Take ?

Posted on December 12, 2011 by SRRF

Friends, I would like to initiate a new topic on a dilemma which all the associations (and their financial advisors) face whenever preparing annual return (FC3). What does closing balance in FC3 should represent, should it be funds as per … Continue reading →

Posted in FCRA, TAX, LEGAL | 9 Comments