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

Query- Financial transactions to the Donor Agency Project Officer in India

Posted on March 28, 2012 by SRRF

Dear SRRF members,

We have received a new query under FCRA from P.Mallikarjuna Reddy’MAHITA- Hyderabad

• One of our Europe based donor agency has appointed project officer in

Hyderabad to monitor their projects in South India. Since the person doesn’t

have FCRA, the particular donor agency has requested MAHITA that they will send

the project amount to our organization account and in turn we have to take care

of the Project Officer’s salary, travel, Capacity Building workshops of their

donor agency partners and other administrative expenses as per the sanctioned

amount. The Donor Agency has agreement with the Project Officer directly and the

money is coming to our Bank Account. Mahita is working with the donor agency for

a long time and they are one of our primary donor agency.

• Based on the monthly expenditure statement submitted by the Person, we are

incurring his expenditure (Salary, travel, administration) through Cheque and we

are also deducting Professional Tax and TDS from his salary. The bills and other

expenditure incurred in his name and he is submitting every month to our

organization.

• We have an agreement with him in regarding to the maintenance of accounts,

maintenance of all vouchers and systems as per the sanctioned budget with the

particular donor agency.

 

In the recent time, one external financial person has raised objection that,

since the agreement is directly with the individual person vis-à-vis the donor

agency and our organization can’t facilitate this kind of financial process and

suggested us to take appropriate guidance in this issue.

 

In this regard, we would be thankful if you could inform us, whether we can

continue with this process or NOT? If this is not a good practice as per the

law, what would be the alternative, as neither the donor agency nor their

appointed Project officer doesn’t have FCRA account in India.

 

Thanking you,

P.Mallikarjuna Reddy

Finance Coordinator

Mahita

Hyderabad

____________________________________
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- FCRA ”May we request you to help us to guide submission of application for registration of FCRA?”

Posted on March 26, 2012 by SRRF

Dear SRRF members,

We have received a new query under FCRA from Mr. S.P Ghosh’ President, CCDS, Bankura

”May we request you to help us to guide submission of application for registration of FCRA?”

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