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FCRA relaxation in pipeline
On April 29, 2021 / Comments 0
https://ngoenabler.com/wp-content/uploads/2021/04/20210429_105037.jpg...
read moreDefinition of CSR broadened again
On April 22, 2021 / Comments 0
Ministry of Corporate Affairs clarifies that spending of CSR funds for “setting up makeshift hospitals and temporary COVID care facilities” is an eligible CSR activity. General Circular No. 05/2021...
read moreCBDT Latest Notification
On April 17, 2021 / Comments 0
The wait is over !! CDBT has finally released the notification dated 26th March 2021 laying down the provisions for renewal of registrations u/s 12AA/12A.80G/10(23C) and notifying the related forms. Renew your registrations by 30.06.2021 in order to continue the tax exemption for your organization. https://ngoenabler.com/wp-content/uploads/2021/04/notification_19_2021.pdf...
read moreForm 10BD – Filing of Statement of Donation
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CDBT in its notification dated 26th March 2021 have also laid down the procedure for furnishing the particulars of donation in Form 10BD which shall be mandatory for all organizations registered u/s 80G and Section 35 of the Income Tax Act. The due date prescribed is 31st May of the immediately following financial year....
read moreTax calendar released by Income tax department
On April 4, 2021 / Comments 0
Tax calendar released by Income tax department. https://www.incometaxindia.gov.in/pages/deadline.aspx...
read moreLink Aadhar and PAN by 31 March.
On March 24, 2021 / Comments 0
Get ready to pay late fee if you don’t link Aadhaar and PAN by 31 March - https://www.livemint.com/money/personal-finance/get-ready-to-pay-late-fee-if-you-don-t-link-aadhaar-and-pan-by-31-march-11616561668052.html Download mint app for latest in Business News - https://bit.ly/32XEfFE...
read moreRedressal mechanism for faceless e-assessment
On March 22, 2021 / Comments 0
IT Dept. creates exclusive e-mail for raising complaints against 'roving questionnaires' issued under Faceless Assessment* IT Dept. creates exclusive e-mail ID for grievance registration regarding Sec.142(1) notices, including roving questionnaires, issued under the Faceless Assessment Scheme, 2019; States that "The grievances received in the said email shall be closely monitored by a team of officials at National e-Assessment Centre."; The exclusive email ID is "feedback.notice.neac@incometax.gov.in"...
read moreFCRA Annual Return | Extension of Due Date
On November 24, 2020 / Comments 0
The FCRA Annual return for the financial year 2019-20, has been extended from 31.12.2020 to 30.06.2021. As per the notice, it seems that the Darpan id has been again made mandatory for FCRA Registered organizations, although it has not been clearly mentioned. The reason for extension that has been mentioned is as follows: a) Uploading Aadhar of all members b) Uploading Affidavits of all members c) Opening of FCRA Account, SBI To cope with all this, the organizations might take time and hence the extension has been provided. The copy of notice is enclosed. https://ngoenabler.com/wp-content/uploads/2020/11/fc_notice_24112020.pdf...
read moreA new separate regulator for NGOs – a boon or bane for the Sector ?
On November 16, 2020 / Comments 0
The Central Economic Intelligence Bereau (CEIB) have recommended setting up a national level regulator "National Conmission for Charitites" in order to monitor and regulate the activities of the NGOs, with special focus on foreign funded NGOs.Will such separate regulator be a bit less stricter than the current regulators, to allow smooth working of NGOs or it will now be an another blow for the Sector, is a matter of question, judgement and discussion Courtesy https://m.timesofindia.com/india/a-regulator-for-ngos-that-get-foreign-funds-govt-vets-plan/amp_articleshow/79239413.cms...
read moreSTANDARD OPERATING PROCEDURE FOR OPENING OF FCRA ACCOUNT IN NDMB, SBI
On November 12, 2020 / Comments 0
From confirmed sources, the SOPs for opening the FCRA Account in NDMB, SBI, have been released but yet to uploaded on the FCRA portal and SBI Website. https://ngoenabler.com/wp-content/uploads/2020/11/Final-SOP-FCRA-10-Nov-2020-6-00-PM.pdf...
read moreRecent update for NGOs
On October 24, 2020 / Comments 0
The Ministry of Finance has yet again extended the due date for filing tax audit reports and income tax returns for the AY 2020-2021. The due date for the tax audit report has now been extended to 31-12-2020 and that for income tax return has been extended to 31-01-2020. However, in cases where the organization is not liable to audit,the due date for filing return remains 31-12-2020. https://ngoenabler.com/wp-content/uploads/2020/10/MoF_IT_Extension_PR_24.10.2020.pdf...
read moreMHA Department Notification on opening and Operating FCRA Account in New Delhi
On October 13, 2020 / Comments 0
The MHA Department has finally come up with the notification on procedure for opening and operating the FCRA Account in New Delhi Main Branch of SBI. The copy of notification is enclosed for your reference. https://ngoenabler.com/wp-content/uploads/2020/10/FCRA-Notice.pdf...
read moreProposed Amendments in FCRA Regulations
On / Comments 0
A series of amendments have been proposed in FCRA regulations which include: a) Debarring public servants from receiving foreign contribution b) Reducing the limit of spending on administrative expenses from 50% to 20% c) Opening a bank account exclusively for FCRA purposes at SBI branch, New Delhi The final amendments are awaited . Keep subscribed to our channel for latest updates Courtesy : https://twitter.com/TOIIndiaNews/status/1307566459875278850?s=08...
read moreJudgement by Apex Court on Application for 12A
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A welcome judgement on Application for 12A registration by the Apex Court : Ananda Social And Educational Trust vs. CIT (Supreme Court) 12AA registration no stipulation that the trust should have already been in existence and should have undertaken any activities before making the application for registration. The term ‘activities’ in s. 12AA includes ‘proposed activities’. S. 12AA: Registration can be applied for by a newly registered trust. There is no stipulation that the trust should have already been in existence and should have undertaken any activities before making the application for registration. The term ‘activities’ in s. 12AA includes…...
read moreSystem by RBI for Tracking High Value Transaction
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Another system of tracking the high value transactions is being introduced by RBI to stop banking frauds - " Positive Pay System" The issuer of cheque might now have to submit electronically through Mobile App, Internet banking , ATM or SMS , the details of the cheque to the drawee bank for reconfirmation and cross verification before clearance of cheque. Though as of now it will be optional and at the discretion of the account holder to avail the facility but the banks might consider making it mandatory above certain limit, say Rs. 5 lacs . Courtesy: https://m.economictimes.com/news/economy/policy/positive-pay-system-for-cheque-payments-to-come-into-effect-from-january-1-2021-rbi/articleshow/78322892.cms...
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