The Union Home Ministry warned 1,927 NGOs about initiating a penal action if they fail to verify their foreign contribution designated bank accounts.
The Union Home Ministry warned 1,927 NGOs about initiating a penal action if they fail to verify their foreign contribution designated bank accounts. Over 20,000 voluntary organisations are registered with the government for getting foreign aid.
According to the rules, voluntary organisations need to be registered under the Foreign Contribution (Regulation) Act (FCRA) to receive overseas financial aid. It should be received in a single designated bank account.
The ministry has already asked 2,025 NGOs to validate their accounts within the fortnight on June 7 and provide audited statements of their accounts, including income and expenditure statements.
The Home Ministry is likely to penalise more than 10,000 NGOs who have failed to give annual statements of their accounts. It has already given a one-time opportunity to 18,523 NGOs in May to provide details of their income and expenses for five years, reported a leading news agency.
Source: http://www.indiainfoline.com/article/news-top-story/ngo-govt-may-penalise-ngos-who-fail-to-file-fcra-returns-117062400092_1.html
The Union Home Ministry warned 1,927 NGOs about initiating a penal action if they fail to verify their foreign contribution designated bank accounts. Over 20,000 voluntary organisations are registered with the government for getting foreign aid.
According to the rules, voluntary organisations need to be registered under the Foreign Contribution (Regulation) Act (FCRA) to receive overseas financial aid. It should be received in a single designated bank account.
The ministry has already asked 2,025 NGOs to validate their accounts within the fortnight on June 7 and provide audited statements of their accounts, including income and expenditure statements.
The Home Ministry is likely to penalise more than 10,000 NGOs who have failed to give annual statements of their accounts. It has already given a one-time opportunity to 18,523 NGOs in May to provide details of their income and expenses for five years, reported a leading news agency.
Source: http://www.indiainfoline.com/article/news-top-story/ngo-govt-may-penalise-ngos-who-fail-to-file-fcra-returns-117062400092_1.html
