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 operational purpose. On quarterly basis. Now we got some interest from this (general bank a/c). we feel this is also treated a FCR Account or Not?
Please give your suggestions on this issue.
SV Reddy
Finance Officer
HELP, 2nd lane, Sujatha nagar,
Lawyer pet Ext, ONGOLE – 523 002. A.P
I have now joined another NGO called “Pratham Books” in Bangalore. They are into developing, publishing & distributing children’s books in various languages and promoting reading habit among children.
I have a query in this. We receive grants/donations from various Donors to develop and distribute books. When Donors are Foreign based, we receive grant in FCRA account. But since, development and printing done in India, books are accounted and stocked in our Local Books, from where we distribute it. Can we transfer Foreign money to our Local account for this distribution? Can opening a Utilization Account will help us?
Looking forward for your response.
Regards
Pragya
Please note that there has been some important changes in online filing of FCRA annual return (FC-6).
As per FCRA department, now there is no need to submit hard copy of FC-6 to the ministry, you have to upload scan copy of the all supporting documents to the ministry website at the time of filing of online FC-6. The new instructions for online filing of annual form FC-6 state that final submission can be made after uploading the scan copy of the following documents:
– Chartered Accountant Certificate &
– Declaration Certificate of Chief Functionary of the FCRA registered association.
The Annual Return submitted online will be treated as final version and there is no need to submit paper/hard copy of the Return to the Ministry of Home Affairs.
Thanks to Mr. B. V. Soma Sastry for bringing this to the attention.
However it may be mentioned that while the Dept. has stated that there is no need to file hardcopy, please note that as per Rule 17 (1) requires filing of financial statements and Rule 17 (6 ) requires submission of bank statements. Further Online instructions 12 still requires hardcopy to be filed.
Hence as a prudent accountants, we should continue to file hardcopy of returns as we have been doing in past in addition to online filing of documents required.
__________________________________
Socio Research & Reform Foundation (NGO)
512 A, Deepshikha, 8 Rajendra Place, New Delhi – 110008
e-mail: socio-research@sma.net.in;
website: http://www.srr-foundation.org
Friends,
Often there is a debate, particularly amongst the civil society players, whether it is right for corporates to use CSR for brand building. While corporates and policy makers do not see anything wrong in it. Infact some even talk of it as a win-win situation, which could lead to ‘sustainable’ CSR.
Now there is an interesting development and judicial pronouncements could add to this debate. Madras High Court has admitted a PIL for hearing whether tobacco companies should be allowed to build goodwill for their products through CSR activities. The PIL, filed by Tamil Nadu People’s Forum for Tobacco Control, alleges that since CSR activities allow companies to do brand building, tobacco companies will use CSR for earning goodwill and brand building, which they should not be allowed. The PIL suggests that such companies should be asked to deposit their CSR funds with the State / Central Govt. which can be used for specific purposes, such as anti-tobacco drives, health of tobacco affected patients, etc. Same question can be raised tomorrow against companies marketing alcoholic beverages, etc.
I believe the fundamental issue is : What is the basic objective of CSR and are the drivers of CSR in alignment with these objectives ?
Any thoughts which would add to this debate ?
_________________________________
Subhash Mittal
(Secretary)
Socio Research Reform Foundation (NGO)
512 A, Deepshikha Building,
8 Rajendra Place, New Delhi – 110008.
E-mail: smittal@sma.net.in, website: http://www.srr-foundation.org
Dear Friends,
Fundamental Right to freedom which includes speech and expression, assembly, association or union or cooperatives, movement, residence, and right to practice any profession or occupation (some of these rights are subject to security of the State, friendly relations with foreign countries, public order, decency or morality), right to life and liberty, right to education, protection in respect to conviction in offences and protection against arrest and detention in certain cases.
Regards,
V.B.Chandrasekaran,
Chatti Mahatma Gandhi Aashramam,
Chatti Post, Chinthur Mandal, Khammam District,
Andhra Pradesh, Pin Code: 507129.
Dear SRRF Member,
I have query on the topic “Whether Foreign travel expenses allowed under IT Act? One of the auditors says that the foreign travel expense as it is not allowed under section 11 (1). as per IT Act and the Income must be applied only in India. However there is provision under the funding contract to attend the conference in abroad.?
The auditor says that “any expenditure incurred outside India will result in payment of income tax for the entire surplus for the year which becomes taxable”.
IT is also to be noted that even in the foreign travel 70% of the expenses by way of ticket and it is paid within India only.
Kindly clarify
With kind regards
Sudhakar
—
C. Sudhakar
Programme Leader (Finance)
DHAN Foundation
1A-Vaidhyanathapuram East, Kennet Cross Road
Madurai 625 016
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Respected sir
Greetings
HELP is a NGO working in coastal AP. Recently we received a notice from one person under RTI Act 2005. He asking our about details of funds received from and spending details including each beneficiary name and address, Income tax returns from 1999. Secondly we are not receiving any single paisa from any govt agencies. now what we can do? he cant pay any cost of zerox exp.
We have doubt pl clarify .. that this Act applicable to the NGOs or not?
We are awaiting for your kind response.
regards
Ram mohan NVS
(Ram mohan NVS)
_____________________________________________________________
Support our endeavor to end sex trafficking, address sexual violence, child abuse & exploitation
____________________________________________________
HELP, 2nd lane, Sujatha nagar, Lawyer pet Ext, ONGOLE – 523 002. A.P Skype ID: help.ap
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Dear Friends,
I have a query on payment of professional fee to a foreign consultant for work done in India:
1. Can this payment be made?
2. What is the procedure for the payment in India?
3. What would be the tax implication?
4. Can the consultant claim the TDS in his/her native country?
Thanks and regards,
—
B V Soma Sastry
Dear Friends,
Greetings from Hyderabad!
I have come across many organizations which are registered as Societies but the PAN is reflecting the organizations as Trusts. This is based on the 4th letter in the PAN.
In case of online filing, the acknowledgment will also reflect the organization as Trust.
Looking forward to your feedback.
Thanks and regards,
—
B V Soma Sastry
