Category Archives: FCRA, TAX, LEGAL

Foreign Contribution Regulation Act

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

Travel from foreign agency – Local or FCRA ?

Posted on December 9, 2011 by SRRF

Dear SRRF Members I have received reimbursement of abroad travel expenses towards attend the project workshop., Kindly suggest the amount which type treat Local or FCRA and where deposit FC Bank account or Local account. Regards Sunil K Suryavanshi

Posted in FCRA, TAX, LEGAL | 9 Comments

Donation from MNC – Local or FCRA?

Posted on November 30, 2011 by SRRF

Dear all, We have received donation by cheque in Indian Rupees from an Multi National Company incorporated in India. Should this donation treated as an FCRA donation or a local donation. Thanks & Regards, Arvind Balamkar Finance Associate for TeachForIndia … Continue reading →

Posted in FCRA, TAX, LEGAL | 7 Comments

FCRA Clarification

Posted on November 28, 2011 by Subhash Mittal

From: NSWC Sent: Saturday, October 29, 2011 1:06 PM To: srrf-dialogue@yahoogroups.com Subject: [srrf-dialogue] Clarification on whether to mention “For Private Circulation Only” in the electronic news bulletin of the NGO as per new FCRA Act Dear Subhash Ji, Season’s Greetings … Continue reading →

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Govt to probe Danish funding

Posted on November 21, 2011 by SRRF

As per a report in Indian Express, the Govt of India has initiated an inquiry against some NGOs that foreign funds are being used to fan political unrest in the country, by creating a platform of protests and agitations against … Continue reading →

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