FCRA funds transferred to wrong account

Sir,

Money transfer from our foreign donor by mistake has been sent to another organization’s FC account as the wire transfer carried the other organization’s details instead of ours. How do we go about correcting this? Is it enough if the donor writes to the recipient and ask him to transfer the amount to us ? Will it be within the FCRA regulation? How can we correct this? The recipient will be ready to transfer/oblige.

Bhooma Parthasarathy

Posted in FCRA, TAX, LEGAL | 5 Comments

Applicability of FCRA on Rotary Club?

My Quarry is that We are a small part of a big group called Rotary Dist. 3010.

Do we need to register ourselves on behalf of the individual capacity of our club.

In every individual Rotary Club The President is changed every Year & there is no permanent address of the club. Only the address of current club president is valid.

So how do we apply. We have to register ourselves every year ?

Rotary Club Of Delhi Capitol.

D. L. Jalan

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FCRA Registration of a Trust

Hi

What are the criteria for a trust to apply / get FCRA…please guide us….. ????

Your’s Sincerely

Ravi Bhushan
OMABM Foundation

Posted in FCRA, TAX, LEGAL | 8 Comments

Should NGOs join hands with Private Banks in their CSR efforts?

In our Country, major Banks in Private sector like ICICI, AXIS and HDFC have been in News for wrong reasons. MNBanks like HSBC have also been in the news for wrong reasons. Is it true that the Regulators cast a blind eye on them? Should NGOs join hands with them in their CSR efforts? Are our Regulators regulating themselves in favour of erring Banks !

Udayashankar

Sheila Bair: Regulators Let Big Banks Look Safer Than They Are
Capital-ratio rules are upside down—fully collateralized loans are considered riskier than derivatives positions.
(In critical areas such as the ones discussed by Sheila Bair in the context of USA, Indian Regulators seem to be doing a good Job. Is it not?)
Posted in General | Comments Off on Should NGOs join hands with Private Banks in their CSR efforts?

Transfer of Assets u/s 35AC

Dear Sir,

We are having exemption u/s 35 AC for specific one project. We want to know after completion of the project can we transfer asset from project to the organization?

Regards,

Sushma Bhonsale
Head – Accounts
Deepak Foundation
Within Nijanand Ashram Premises,
Nr. Laxmi Studio, Adjoining L&T Knowledge City,
On NH-8, Ta. & Dist. Vadodara-390 019

Posted in FCRA, TAX, LEGAL | 4 Comments

Workshop & FCRA

My Query is:

If a NGO organize a workshop with the help of foreign organisation and the funds that comes through them in NGO’s bank (which has no FCRA) Will it be considered as a donation?

The foreign organisation has these funds as a grant from their country to conduct programmes in other countries.

Richa Mohan

Posted in FCRA, TAX, LEGAL | 10 Comments

Challenges of implementing of RTE

Right to Education is creating its own problems. As the Govt’s sustained campaign to enhance attendance in schools is bringing over 90% of children to schools, predictably it is also creating infrastructural problems. At primary level currently there are 5.23 lakh of vacancies. This would almost double, i.e. another 5.1 lakh vacancies, if the Govt decides to implement the RTE norm of 30 students per teacher.

Not only this the standard of teachers currently employed are not as per norms set out. Presently 7.74 lakh teachers do not have necessary qualification or training. In fact present criteria for qualification for primary teachers is having passed Teachers’ Eligibility Test. To be eligible to sit for this examination, one needs to have passed XIIth examination and undertaken a 2 year diploma in Teachers’ education, however most states are finding it extremely difficult to get teachers with such qualifications. In fact WB Govt appoints teachers with Xth pass (Refer earlier blog post on SRRF Dialogue http://blog.srr-foundation.org/?p=424 ).

The problem is not limited to primary level, at secondary level, Rashtriya Madhyamik Shiksha Abhiyan requires 1.79 lakh new teachers for English, Mathematics and science. The problem is getting further accentuated since the institutes providing Teachers’ Training has capacities of less than 30,000 per annum.

The issue is not just limited to shortage of teachers, there are constraints of space, several states are allowing schools to add floors to present buildings of schools. Refer earlier post on SRRF Dialogue on this subject http://blog.srr-foundation.org/?p=501 .

Let us all recognize that Govts (both at central level as well as at state levels), education authorities, school administrations are all facing huge challenges in complying with RTE, let all of us work together to ensure that future generations of India are not only literate but well educated.

______________________________________
Socio Research & Reform Foundation
(A Non Government Organisation)
512 A, Deepshikha, 8 Rajendra Place, New Delhi – 110008
e-mail: socio-research@sma.net.in;

Posted in Education | Comments Off on Challenges of implementing of RTE

Debt as FC

Dear Friends,

Greetings from CWS!

I have a query on debt. The query is:

  1. Can a secured or an unsecured debt be treated as FC money?
  2. If yes, under what circumstances?

Thanks and regards,
_____________________________________
B V Soma Sastry
Director – Finance and Admin
Centre for World Solidarity
12-13-438, Street No. 1, Tarnaka
Secunderabad 500 017
Andhra Pradesh

Posted in FCRA, TAX, LEGAL | 1 Comment

Transfer outside India

Dear All,

Greetings from CWS, Hyderabad!

While I was browsing the website of SRRF, I came across a presentation which had the following 4 points.

  1. Grants to NGOs outside country
  2. Grants to sister concerns outside country
  3. Payment for procurement of goods / services from outside India
  4. Payment for travel expenses of Indian Board members / staff

In case of 1 and 2, I seek some clarity from all of you. If grants are given to organizations outside India:

  1. How do we account the grant?
  2. Will the auditor in India take cognizance of the audit report of outside country and audit our books? This is important in the context that most of donor agencies are seeking audited report on actual expenditure although IT Act allows the grant to be treated as expenditure.
  3. 3 establishes a vendor-vedee relation but in case of consultancy:
    • What should be done for TDS? Can we deduct TDS and if yes, how do we deposit to the exchequer?
    • Can the consultant claim TDS upon filing of returns in his home country?
  4. I am not seeing problem in 4 as it amounts to more or less a reimbursement of expenses and would attract certain provisions of IT and RBI.

Kindly comment on the issue for further clarity.

Thanks and regards,
_____________________________________
B V Soma Sastry
Director – Finance and Admin
Centre for World Solidarity
12-13-438, Street No. 1, Tarnaka
Secunderabad 500 017
Andhra Pradesh

Posted in FCRA, TAX, LEGAL | 2 Comments

Query Related to FCRA Registration

Dear dialogue member,

We are a delhi based NGO. We have to apply for FCRA registration but our problem is one of our board member is away from Delhi for one year. He is doing MBA there. If we apply for registration whether it will be rejected on this ground or matter may get delayed due to police varification. Whether police verification will be done in both the places- Delhi and Ranchi?

Regards,

Yogendra Jha

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