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Author: FMSF

MHA issues list of 3768 FC associations not conforming to Core Banking requirements

As per the notice from FCRA department dated 19.07.2016, the central government had notified that the FCRA registered organizations are required to update their bank accounts details (Designated Account and Utilization Account) by filling the required information in form FC-6 latest by 31st August, 2016. In continuation to the above requirement, the department through itsRead More

FMSF March 3, 2017Comment (1)

TAX ON ACCRETED INCOME

The Finance Act 2016 includes new sections such as 115 TD, 115 TE & 115 TF that provide for taxation of ‘accreted income’. These changes for NGOs are far reaching as they even affect organizations whose 12 AA has been cancelled but may still have to pay tax on their trust properties. The main intention of thisRead More

FMSF February 15, 2017February 15, 2017Leave a comment

Budget 2017 – Changes with regard to NPOs

The Union Budget 2017 was presented by the Honorable Finance Minister on 1st February 2017. We have done a detail analysis of the implication of the budget with respect to NPOs in a form of an ecommunique. The same is also uploaded on our website http://bit.ly/2kwKVZ0 There are few significant changes like corpus donation given toRead More

FMSF February 3, 2017Leave a comment

Another opportunity for filing renewal application for 11319 organisations

You may be aware that the FCRA registration of 11,319 organisations have been deemed to be ceased since they have failed to apply for the renewal within the prescribed time limit. However the FCRA department is providing another opportunity to such organisations. They can apply for renewal latest by 28th February’17 providing sufficient grounds forRead More

FMSF November 25, 2016November 25, 2016Leave a comment

Demonetization of currency notes and FCRA implications

With demonetization of Rs. 500/- and Rs. 1000/- currency notes, we have been flooded with queries about amount already withdrawn from FCRA designated or utilization bank account in such currencies. In our opinion out of abundant caution, the NGOs are advised to deposit this amount in FCRA designated bank account only irrespective of whether theRead More

FMSF November 9, 2016November 9, 2016Leave a comment

List of associations whose registration has been deemed expired

After the list of 1736 NGOs whose application were closed due to non submission or deficiency of documents. Today MHA has come out with a list of 11319 NGOs whose FCRA registration was valid till 31/10/2016 and have not applied renewal by 30/06/2016. Their validity of registration deemed expired from 01/11/2016 To view the listRead More

FMSF November 3, 2016November 3, 2016Comment (1)

Notice for associations whose renewal application has been closed

  You are already aware that this is the time for FCRA Renewal. Many organisations have renewed their FCRA for the next 5 years now. Today FCRA department has issued a notice (Copy attached) regarding the applications which were closed due to non submission or deficiency of documents. There are 1736 cases in total. KindlyRead More

FMSF November 2, 2016November 3, 2016Comment (1)

Extension of date for submission of annual return under Lokpal

The much awaited formal notification for extension of due date for submission of annual returns for ‘Public Servants’ under the Lokpal and Lokayuktas Act 2013 has been notified. As per this notification, the annual returns submission date has been extended from 31st July, 2016 to 31st December, 2016. To read the complete Notification no. 526Read More

FMSF July 29, 2016July 29, 2016Leave a comment

The Lokpal and Lokayuktas (Amendment) Bill, 2016

The Lok Sabha has passed a bill named “The Lokpal and Lokayuktas (Amendment) Bill, 2016”. This is to amend the Lokpal and Lokayuktas Act, 2013.  Sec 44 and Sec 59 of the existing Act have been amended. Sec 44 – Sec 44 falls under Chapter XIII which is about ‘Declaration of Assets’. Sec 44 of the LokpalRead More

FMSF July 28, 2016Leave a comment

Online filing facility for lokpal compliance in FCRA website

The FCRA Department has opened the link for online submission of annual returns under Lokpal. Click here to go to the link. Instructions for filling the forms are given below: (also given in the FCRA website) An applicant should download the returns form. Applicant Means:- “any person who is or has been a director, manager, secretary orRead More

FMSF July 22, 2016July 28, 2016Leave a comment
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Recent Posts

  • MHA issues list of 3768 FC associations not conforming to Core Banking requirements
  • TAX ON ACCRETED INCOME
  • Budget 2017 – Changes with regard to NPOs
  • Another opportunity for filing renewal application for 11319 organisations
  • Demonetization of currency notes and FCRA implications

Archives

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  • February 2017 (2)
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Categories

  • Budget (1)
  • FCRA (6)
  • Governance (3)
  • Income Tax (4)
  • Legal Compliance (12)
  • Lokpal and Lokayuktas Act (1)
  • Lokpal and Lokayuktas Act 2013 (5)

Categories

  • Budget (1)
  • FCRA (6)
  • Governance (3)
  • Income Tax (4)
  • Legal Compliance (12)
  • Lokpal and Lokayuktas Act (1)
  • Lokpal and Lokayuktas Act 2013 (5)

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