Query-Service Tax

Posted on April 20, 2012 by SRRF

Dear SRRF members,

We have received a new query under Service Tax, from B V Soma Sastry

” I am attaching a circular issued by the GoI on 17.03.2012 with regards to Service Tax wherein organizations registered under section 12aa of the IT Act are exempt from service tax. I would request you all to go through the document and also advice on the following:

  1. If we are not registered under Service Tax, do we have to register now?
  2. In case we are registered, do we continue filing service tax returns?”

Looking forward to your response.

http://www.srr-foundation.org/service_tax_12-2012.pdf

With warm regards,

Tanvi

____________________________________

Socio Research & Reform Foundation
(A Non Government Organisation)
512 A, Deepshikha, 8 Rajendra Place, New Delhi – 110008
Tele/Fax: +91-11-25821088, 25817157, 25722044
e-mail: socio-research@sma.net.in


Disclaimer:

It may be stated that the following suggestions have been given for general awareness of SRRF Dialogue members and do not form any contractual relationship between the SRRF or opinion giver or the person/s receiving these information or anyone taking action based on the same.
If you find the above information of relevance, you may visit our web-site http://www.srr-foundation.org, where you will find a large data on various aspects of Development Related issues

Posted in FCRA, TAX, LEGAL | 1 Comment

Query- TDS

Posted on April 20, 2012 by SRRF
Dear SRRF members,
We have received a new query under TDS, from Collen Margaret

” I am working for a Reg. Society where our main source of income is Rentals for which I have obtained TDS exemption certificate from IT department.

Apart from rentals we have a regular general expenses like electricity bill, water bill, security bill & once in a year Lift maintenance AMC. Every bill is paid monthly and same are divided into a % and request the tenants to reimburse there potion of the expenses.  While payment to Lift AMC and Security bill TDS is deducted and paid.

My question is does these bills reimbursed will attract TDS u/s 194I

Please answer my query immediately most urgent. ”

Looking forward to your response.
With warm regards,
Tanvi
  
___________________________________
Socio Research & Reform Foundation
(A Non Government rganisation)
512 A, Deepshikha, 8 Rajendra Place, New Delhi – 110008
Tele/Fax: +91-11-25821088, 25817157, 25722044
e-mail: socio-research@sma.net.in

 

Posted in FCRA, TAX, LEGAL | 3 Comments

Query-FCRA

Posted on April 19, 2012 by SRRF
Dear SRRF members,
We have received a new query under FCRA, from B V Soma Sastry

” I have two questions:

  1. Can grants be given from utilization FC account?
  2. Do we have to send the bank statements of the utilization accounts along with FC-6?”

Looking forward to your response.

With warm regards,
Tanvi
___________________________________
Socio Research & Reform Foundation
(A Non Government Organisation)
512 A, Deepshikha, 8 Rajendra Place, New Delhi – 110008
Tele/Fax: +91-11-25821088, 25817157, 25722044
e-mail: socio-research@sma.net.in
Posted in FCRA, TAX, LEGAL | 2 Comments

Query- CSR

Posted on April 10, 2012 by SRRF

 

Dear SRRF members,

We have received a new query under CSR, from Uday Shankar

As a lay person trying to dabble with accountability issues which should be the concern of one and all engaged in development action, I seek clarifications on :
1. All most all the Corporate (Industrial/business) units, have their own guidelines and MOU / accounting formats developed under the guidance of their respective CSR/ finance/audit wings. Yes, they are receptive to innovative ideas related to tax avoidance and are probably willing to incorporate into their formats.
Did any Corporate group express the need for such manuals/guidelines/accounting formats? NGOs require such manuals in the light of the mandatory/statutory CSR obligations to be fulfilled by Companies vide the recent amendment to the Companies Act.
2. Is it not advisable not to use the word “contract” even under grants/donations?
3. Just as TDS could be avoided under grants / donations ( local), the same logic holds good in matters of unspent grant amounts / donations (local / foreign?) at the end of the financial year – escapes from the limits to amounts of balances to be carried forward and tax implications, if any, vide new FCRA guidelines /IT/DTC. Is it not ?

Looking forward to your response.
With warm regards,
Tanvi

____________________________________
Socio Research & Reform Foundation
(A Non Government Organisation)
512 A, Deepshikha, 8 Rajendra Place, New Delhi – 110008
Tele/Fax: +91-11-25821088, 25817157, 25722044
e-mail: socio-research@sma.net.in

 

  
Posted in FCRA, TAX, LEGAL | Comments Off on Query- CSR

Query- Income Tax-Sec 12A

Posted on April 10, 2012 by SRRF
Dear SRRF members,
We have received a new query under Income Tax from Ms. Leela Tirthani

“The NGO should however be registered u/s 12A.” this mean if a NGO does not have 12A registration TDS will be deducted on the Grant-aid received ?”

Looking forward to your response.
With warm regards,
Tanvi

____________________________________
Socio Research & Reform Foundation
(A Non Government Organisation)
512 A, Deepshikha, 8 Rajendra Place, New Delhi – 110008
Tele/Fax: +91-11-25821088, 25817157, 25722044
e-mail: socio-research@sma.net.in

 

Posted in FCRA, TAX, LEGAL | 2 Comments

Query- Income Tax- Sec 12A

Posted on April 3, 2012 by SRRF
Dear SRRF members,

We have received a new query under Income Tax from Mr. Vidya sagar Devabhaktuni’ President- SKG Sangha

”Being a society registered under section 12A of the Income Tax Act, is the society allowed to keep its funds in a bank fixed deposit?

If yes, is the interest earned on this bank fixed deposit subject to TDS by the bank? If yes is there a way to avoid this TDS?

Looking forward to your response

With warm regards,

Tanvi Dogra

____________________________________
Socio Research & Reform Foundation
(A Non Government Organisation)
512 A, Deepshikha, 8 Rajendra Place, New Delhi – 110008
Tele/Fax: +91-11-25821088, 25817157, 25722044
e-mail: socio-research@sma.net.in

 

 

Posted in FCRA, TAX, LEGAL | 3 Comments

Friendly measures to keep Railways clean

Posted on March 31, 2012 by SRRF

The Open Discharge toilets are costing the India Railways a staggering Rs 350 crore a year because of corrosion of tracks by night soil. The idea of green toilets has often been discussed in the past, but has not made such headway.

Unclean toilets, dirty stations and soiled rail tracks are a common sight at railway stations across the country. Reason being Manual Scavenging could not be abolished. Government announced to conduct a fresh survey in the month of January 2011 to identify locations of dry latrines and the number of manual scavengers in the country. However the survey is still not initiated.

As of now there are almost 43,000 coaches being operated by the Railways and, therefore, 1.72 lakh toilets. As of now, only 135 bio-toilets have been put in place, and railways intend to take this number to 500.

The Government is also planning to introduce a new Bill in Parliament further strengthening present bills of manual scavenging and insanitary latrines. Provision would be made for proper rehabilitation of manual scavengers in alternative occupations so that they are able to lead a life of dignity.

Considering the previous law of abolishing Manual Scavenging was legislated in 1993, but Railways has been able to convert only 135 out of 1.72 lakhs toilets into bio-toilets, formulating of laws does not seem a solution.

________________________________
Socio Research & Reform Foundation
(A Non Government Organisation)
512 A, Deepshikha, 8 Rajendra Place, New Delhi – 110008
Tele/Fax: +91-11-25821088, 25817157, 25722044
e-mail: socio-research@sma.net.in

Posted in Social Issues | Comments Off on Friendly measures to keep Railways clean

Query- Service Tax

Posted on March 31, 2012 by SRRF

Dear SRRF members,

We have received a new query under Service Tax from Human Development Society

”Are NGOs registered under Societies Registration Act’ 1860 required to charge service Tax?’’

Looking forward to your response.

With warm regards,

Tanvi

____________________________________
Socio Research & Reform Foundation
(A Non Government Organisation)
512 A, Deepshikha, 8 Rajendra Place, New Delhi – 110008
Tele/Fax: +91-11-25821088, 25817157, 25722044
e-mail: socio-research@sma.net.in

Posted in FCRA, TAX, LEGAL | 6 Comments

Query- Income Tax- Sec 12A certificate

Posted on March 30, 2012 by SRRF
Dear SRRF members,

We have received a new query under Income Tax from Mr. Pushkar Gupta

”An educational Society was registered under Society Act. for carrying the various educational university courses.

It has a gross receipts (fee from student) less than Rs 1 Crore. Whether society can enjoy the benefit of Sec 10(23C) (iiiad) of income Tax Act without applying for Sec 12A certificate registration?

And whether it is mandatory for filling of Income Tax return by virtue of sec 10(23C)(iiiad) or it has to comply the sec 139(4C)?”

Looking forward to your response.

With warm regards,
Tanvi

____________________________________
Socio Research & Reform Foundation
(A Non Government Organisation)
512 A, Deepshikha, 8 Rajendra Place, New Delhi – 110008
Tele/Fax: +91-11-25821088, 25817157, 25722044
e-mail: socio-research@sma.net.in

 

Posted in FCRA, TAX, LEGAL | 1 Comment

Query- Is TDS applicable on fund transfer?

Posted on March 30, 2012 by SRRF

Dear SRRF members,

We have received a new query under Income Tax from Mr. Subodh Ram’ CFO- BRLPS

Bihar Rural livelihoods promotion society (BRLPS) is World Bank aided project implemented by Govt Of Bihar . Recently BRLPS has got fund from National Institute of Rural Development Hyderabad on behalf of MORD ( Ministry of Rural Development ) for transfer the fund to another NGO(ASA) who is implementing agency for Mahila Kisan Shasktikaran Pariyojana for NIRD . BRLPS is working as fund routing agency for ASA with due verification of terms and conditions issued by MORD. ASA has made contract with BRLPS. Transferred fund is part of grant in aid from Central Government.

Pl suggest us whether TDS will be applicable on fund transfer to ASA from BRLPS?

Looking forward to your response.

With warm regards,
Tanvi

____________________________________

Socio Research & Reform Foundation
(A Non Government Organisation)
512 A, Deepshikha, 8 Rajendra Place, New Delhi – 110008
Tele/Fax: +91-11-25821088, 25817157, 25722044
e-mail: socio-research@sma.net.in

Posted in FCRA, TAX, LEGAL | 6 Comments