Dear friends,
May I raise some query as under:
An NPO (NGO, having its registered office in Delhi has a TAN. Recently a project based in Delhi was started under the same NGO. Is it all right for the project to have separate TAN? If it does, how is the IT return and TDS matters handled at the organisation level?
Glad to have your input.
Thank you.
Kt
(T.Kaithang)
Finance Director,
Emmanuel Hospital Association,
808/92, Nehru Place,
New Delhi. PIN 110019
The agriculture sector in India has been characterized with high supply of labour than demand, low wages, and limited options of earning livelihood. In recent past, due to the increased rural-to-urban migration and the inception of MGNREGS in 2006 and other public works, visible change came into the picture. Schemes like rural MGNREGS are found to be attractive in rural locations. But the government’s move to provide labourers under MGNREGS has not been free from criticism either.
All over the world, agricultural scientists and economists are concerned about the shortage of farm labour, and farm labourers are moving towards urban centers in search of nonfarm labour, the crisis is now reaching new levels. Some blame the implementation of the MGNREGA. The Union Rural Development Ministry states that MGNREGA is not solely responsible for the labor shortage and has validated the same with the following:
• A study that found high non-farm wages having a more significant role in the diversion from agriculture than MGNREGA. Data from financial year 2010-11 suggests that 70 % of the work in the scheme have been generated during the agriculture lean season.
• The Union Rural Development Ministry stresses that MGNREGA has rather given the bargaining power to the rural labour working all these decades with suppressed wages. For instance, land owners used to tie up labourers at a pre-determined rate for agricultural seasons to minimise production costs. But it is no longer so.
In spite of the ministry supporting MGNREGA and its positive implementation, the Tamil Nadu Agricultural University (TNAU) recommended that MGNREGA should be put on hold during the agricultural season, so that enough labour will be available for farm operations. It can be implemented during the lean period that will ensure them work for 120 days. On the demand to suspend all MGNREGA works during the peak agriculture seasons, the ministry says it would be unfair to the surplus labour that may not find employment even during such time. It would be thus unfair to blame MGNREGA solely for the farm hand shortage. The shortcomings cannot be denied but the programme carries a more direct and positive impact on reducing the distress migration by providing work closer to home with decent working conditions. In Anantpur, Andhra Pradesh, the migration level came down from 27% to 7%. Subsequently distressed migration came down to 45% in 2009-10. In Sidhi district of MP, migration reduced by 60%. Though MGNREGA is not free of criticism, it has its positive aspect too which cannot be neglected.
Dear Sir
ours is a Charitable trust registered at Jaipur Rajasthan and we work in two states Raj and UP and have four offices (Project wise locations) three in Rajasthan and one in UP. We are planing to apply for FCRA in next 10-15 days.
Pl let us know what documentation is required for address of Registered office / HO/project office for applying FCRA if our registered office and HO is owned by one of the trustees.
best
Asif Zaidi
Juvenile Justice (Care and Protection of Children) Amendment Bill, 2010, was passed by Rajya Sabha. It will end the segregation of disease-hit children from other occupants of juvenile homes. Replying to a brief debate on the Bill, Women and Child Development Minister Krishna Tirath said segregation of children afflicted with leprosy, sexually transmitted disease, Hepatitis-B, tuberculosis and unsound mind was not required anymore. The Bill seeks to omit and amend certain sections of the original Act, which had provisions for removal of such children from juvenile homes to treatment centers.
The term “financial inclusion’’ has gained importance since the early 2000s. Financial inclusion is now a common objective for many central banks among the developing nations. As per a estimate by a TCS study India has second largest population around 135 million households which do not have access to formal financial services. It is now Govt’s agenda to bring people under financial inclusion. Some of the major projects started by different institutions in India include:
• In India, financial inclusion first featured in 2005, when it was introduced by K C Chakraborthy, the chairman of Indian Bank. Corporation Bank bagged SKOCH financial Inclusion Champion award-2011.
In January 2006, RBI allowed banks to appoint third party entities as Business Correspondents (BCs) to increase banking outreach through suitable technologies while adhering to the prevailing outsourcing guidelines. It has been mentioned earlier in our post “RBI working on major Financial Inclusion Scheme’’. For further reading, kindly follow the link:http://blog.srr-foundation.org/?p=318
• The Adhar – enabled payment system plays a prominent role in facilitating financial inclusion.
• RRBs and cooperative banks and other rural financial institutions to launch the Aadhar-enabled payment service to foster financial inclusion. It aims at insuring thousands of domestic workers, drivers in the NCR in cases of death, accidents or health emergencies.
• Vijaya Bank has announced opening of 191 small branches under the Financial Inclusion (FI) village initiative. Gurgaon-based financial inclusion start-up Swabhimaanya has launched tailor-made insurance schemes for them.
• SBI has recently proposed to open up 56 ultra small branches in 5 districts of Assam and one district in Manipur.
Dear SRRF Members,
Greetings of the day,
The new form of Income Tax Return (ITR-7) for the NGO has been released. Thanks to Account aid for sharing the relevant information. Please refer to the mail below for details:-
Income Tax Department has released a new form of Income Tax Return (ITR-7) for NGOs. The new return has 29 pages in all, including 10 pages of instructions and the acknowledgement.
This form should be used for the AY 2012-13. This means returns for financial year ending 31-Mar-12 will be filed in this form. The return must be filed in paper form.
The new form asks for additional information about FCRA status, foreign contribution received, classification under sec. 2(15), among others.
The form and instructions can be downloaded from the Income Tax web-site (www.incometaxindia.gov.in/download_all.asp) or Accountaid web-site (www.AccountAid.net).
This change is effective from 26th July ’12. If you had already filed your tax return for 12-13 before that date, you do not have to file it again.
References:
We gratefully acknowledge CA Martin Pinto’s help in bringing this change to our attention. – Ed.
(31-Jul-2012)
With warm regards
Farah
Coordinator
__________________________________
Socio Research & Reform Foundation
(A Non Government Organisation)
512 A, Deepshikha, 8 Rajendra Place, New Delhi – 110008
Hi All,
Can an NGO transfer foreign funds to private trust or Private
Limited Company as an Sub Award and if so, what is the process and
legal work to be looked into
Would TDS be applicable and at what rate?
Regards
Ruben Menon
Hi
My office has got its staff affiliated to Employees Provident Fund Organization (EPFO) w.e.f. February 2012. We had applied for the affiliation in February 2012; however, the approval came in April 2012. By that time, the salaries for February and March 2012 were already processed without EPF deduction. My office deposited the arrears for February and March 2012 in April 2012 (after the approval received from EPFO)
Now few staffs are asking for a PF deduction certificate for February and March 2012 (employee contribution) for income tax purpose (deduction u/s 80C) for the FY 2011-12.
In this context, can the office issue PF deduction certificate to staff for February and March 2012?
Regards
Srikrishna Bedbak
