The FCRA Department through its notice dated 7th June, 2017 has now asked 2025 NGOs to update their FCRA bank details by 22-June-2017. The circular in this regard has been attached herewith.
Further, the list of such Associations has been provided in the below link https://fcraonline.nic.in/home/PDF_Doc/fc_list_07062017.pdf
The list is sorted alphabetically. You may search for the name of your organization in the list to ensure whether the name features in the list. If yes, then the details of your FCRA Designated Bank Account and all utilization Accounts should be updated by filing form FC-6 online at https://fcraonline.nic.in/fc_public_login.aspx?Resp_Id=3
NGO Consultant
Odisha NGO Consultancy Services
Friday, June 16, 2017
Notification regarding validation of Bank Accounts
Series of workshops on Good and Service Tax (GST) & FCRA Compliance
Dear Colleagues,
Greetings!
As you might be aware that Goods and Service Tax Bill was passed in the Parliament and GST Act would be applicable in India from 1st July, 2017. Therefore, we have been receiving few queries on the additional compliance requirements for NPOs with respect to GST. Thus, to address significant issues, respond to queries and provide clarity pertaining to the changes in the statutory regulations we are conducting a series of one day workshops on "Good and Service Tax (GST) & FCRA Compliance."
In the first phase, we would be covering 4 Indian cities. The list of cities in the order of the workshop is as follows:
| S.no | Place of workshop | Date of workshop |
| 1 | New Delhi | 19th July 2017 |
| 2 | Kolkata | 21st July 2017 |
| 3 | Hyderabad | 5th September 2017 |
| 4 | Bangalore | 6th September 2017 |
A brief overview of the GST Act and its applicable rules would be covered in this workshop with special focus on its applicability to the NGOs. This would also cover other aspects such as Migration to GST, Reverse Charge Mechanism and Subsuming of Existing Taxes such as VAT, Service Tax etc. Apart from GST, a brief update on FCRA covering the latest amendments and Compliances would also be covered in this workshop.
The brochure with the dates for each workshop is being attached for your reference. As the seats are limited to 50 for each venue, we request you to register as soon as possible. To register, please click here. If you have any queries regarding the workshop, you may write to Ms. Akrita Bharos- Capacity Building Coordinator at akrita.bharos@fmsfindia.org
Kindly circulate this brochure widely among your network for wider reach.
Dr. Sanjay Patra
Executive Director
Inviting Applications for Organizational Capacity Enhancement Program
Dear Colleagues,
Greetings from FMSF!
Financial Management Service Foundation (FMSF) in association with Oracle India is pleased to announce the Capacity Building Program for NGO's entitled "Scalable & Replicable Model of Accountability". For further details on FMSF, please visit our website www.fmsfindia.org
This program provides a unique opportunity for the NGO's to develop their Governance and Financial Management system. It is a one year program, wherein every organization selected will undergo two workshops focusing at "Strategic Management level"and "Operational Management level" in the areas of Governance, Financial Management and Legal Compliances. This will be followed by mentoring and guiding support which will span over a 6 months period. At the end, every organization who will successfully complete the program will be accredited by FMSF and Oracle India for a period of one year.
This program is being conducted with the generous support of Oracle India and therefore the participating NGO's do not have to make any financial contribution/fees for enrolling in the program.
Learning Objectives:
The programme aims to create centers of excellence by infusing concepts, tools and techniques that will lead to development of robust systems and processes and take the organization towards higher echelon of accountability standards. The other immediate benefits envisaged are:
· Compliant to legal regulations
· Professionalization of financial management practices
· Higher visibility in the sector
· Attract potential foreign and national funding
· One year Accreditation by FMSF and Oracle India.
Eligibility Criteria:
This program is targeted towards small and medium scale voluntary organizations who have limited access to funding, technology and professional expertise. The bifurcation of small and medium scale organizations will be done on the basis of annual turnover .i.e.:
· Small organization- 50 lakhs to 1 crore rupees
· Medium organization -1 crore to 5 crore rupees
The applying organizations should have:
· Incorporation certificate
· 12A registration certificate
· Valid FCRA registration certificate (if any)
· Organization operational since last 5 years etc.
Program Outreach:
In the pilot phase, 15 NGO's each in small and medium category will be selected from the following states:
· New Delhi
· Rajasthan
· Uttar Pradesh
· Uttarakhand
Selection Process:
NGO's who come from the above mentioned states which fulfill the above mentioned eligibility criteria are requested to fill in the "Online Application" in the link given below:
https://docs.google.com/a/fmsfindia.org/forms/d/1O2CzwnYWvLOJx9CM3CkxB2Fe79rtvyVgsitpiZTPQEU/edit?usp=forms_home&ths=true
The last date of registration is 30th June 2017.
The shortlisted organizations will be sent a confirmation mail of their selection by first week of July 2017. Further, process will be communicated accordingly to selected organizations.Incase of any further clarification or information required, please write to Ms. Akrita Bharos, Capacity Building Coordinator at akrita.bharos@fmsfindia.org.
with regards
Dr. Sanjay Patra
Executive Director
2nd Announcement
Greetings from FMSF!
Financial Management Service Foundation (FMSF) in association with Oracle India is pleased to announce the Capacity Building Program for NGO's entitled "Scalable & Replicable Model of Accountability". For further details on FMSF, please visit our website www.fmsfindia.org
This program provides a unique opportunity for the NGO's to develop their Governance and Financial Management system. It is a one year program, wherein every organization selected will undergo two workshops focusing at "Strategic Management level"and "Operational Management level" in the areas of Governance, Financial Management and Legal Compliances. This will be followed by mentoring and guiding support which will span over a 6 months period. At the end, every organization who will successfully complete the program will be accredited by FMSF and Oracle India for a period of one year.
This program is being conducted with the generous support of Oracle India and therefore the participating NGO's do not have to make any financial contribution/fees for enrolling in the program.
Learning Objectives:
The programme aims to create centers of excellence by infusing concepts, tools and techniques that will lead to development of robust systems and processes and take the organization towards higher echelon of accountability standards. The other immediate benefits envisaged are:
· Compliant to legal regulations
· Professionalization of financial management practices
· Higher visibility in the sector
· Attract potential foreign and national funding
· One year Accreditation by FMSF and Oracle India.
Eligibility Criteria:
This program is targeted towards small and medium scale voluntary organizations who have limited access to funding, technology and professional expertise. The bifurcation of small and medium scale organizations will be done on the basis of annual turnover .i.e.:
· Small organization- 50 lakhs to 1 crore rupees
· Medium organization -1 crore to 5 crore rupees
The applying organizations should have:
· Incorporation certificate
· 12A registration certificate
· Valid FCRA registration certificate (if any)
· Organization operational since last 5 years etc.
Program Outreach:
In the pilot phase, 15 NGO's each in small and medium category will be selected from the following states:
· New Delhi
· Rajasthan
· Uttar Pradesh
· Uttarakhand
Selection Process:
NGO's who come from the above mentioned states which fulfill the above mentioned eligibility criteria are requested to fill in the "Online Application" in the link given below:
https://docs.google.com/a/fmsfindia.org/forms/d/1O2CzwnYWvLOJx9CM3CkxB2Fe79rtvyVgsitpiZTPQEU/edit?usp=forms_home&ths=true
The last date of registration is 30th June 2017.
The shortlisted organizations will be sent a confirmation mail of their selection by first week of July 2017. Further, process will be communicated accordingly to selected organizations.Incase of any further clarification or information required, please write to Ms. Akrita Bharos, Capacity Building Coordinator at akrita.bharos@fmsfindia.org.
with regards
Dr. Sanjay Patra
Executive Director
2nd Announcement
Notification regarding filing of Form No. 61 A – Non applicability to NGOs
It has come to our notice that there is a fare bit of confusion regarding filing of Form 61 A for NGO. Therefore we are issuing the following clarification :-
NGOs are not covered under any of the following categories and therefore are not required to file form 61A.
To keep a watch on high value transactions undertaken by the taxpayer, the Income-Tax law has framed the new concept of furnishing of Statement of Financial Transactions (SFT) in Form No 61A which has to be filed before 31.05.2017 (now extended to 30.06.2017, Notification attached). It has replaced earlier annual information return reporting.
The following persons shall be required to furnish statement of financial transactions or reportable accounts registered or recorded or maintained by them during a financial year to the prescribed authority on or after 1st day of April, 2016.
· Any person who is liable for audit under section 44AB of the Act
· Banking Company
· Co-operative Bank
· Post Master General of Post office
· Nidhi referred to in sec 406 of the Companies Act 2013
· Non-banking Financial Company (NBFC)
· Any Institution issuing Credit Card
· Company or Institution issuing bonds or debentures
· Company issuing shares
· Trustee of a Mutual Fund
· Authorized Dealer, Money Changer, Off-shore Banking Unit or any other person defined in FEMA, 1999
· Inspector-General or Sub-Registrar appointed under Registration Act, 1908
Since the NGO does not fall in any of the above categories, therefore, it is not required to file Form 61A.
NGOs are not covered under any of the following categories and therefore are not required to file form 61A.
To keep a watch on high value transactions undertaken by the taxpayer, the Income-Tax law has framed the new concept of furnishing of Statement of Financial Transactions (SFT) in Form No 61A which has to be filed before 31.05.2017 (now extended to 30.06.2017, Notification attached). It has replaced earlier annual information return reporting.
The following persons shall be required to furnish statement of financial transactions or reportable accounts registered or recorded or maintained by them during a financial year to the prescribed authority on or after 1st day of April, 2016.
· Any person who is liable for audit under section 44AB of the Act
· Banking Company
· Co-operative Bank
· Post Master General of Post office
· Nidhi referred to in sec 406 of the Companies Act 2013
· Non-banking Financial Company (NBFC)
· Any Institution issuing Credit Card
· Company or Institution issuing bonds or debentures
· Company issuing shares
· Trustee of a Mutual Fund
· Authorized Dealer, Money Changer, Off-shore Banking Unit or any other person defined in FEMA, 1999
· Inspector-General or Sub-Registrar appointed under Registration Act, 1908
Since the NGO does not fall in any of the above categories, therefore, it is not required to file Form 61A.
Update your FCRA Bank Details Immediately!
FCRA Department has now asked 2025 NGOs to update their FCRA bank details by 22-June-2017. The names of these NGOs are given in a list here:
https://fcraonline.nic.in/home/PDF_Doc/fc_list_07062017.pdf
The list is sorted alphabetically. You can download and search it for your NGO's name. If you are a donor agency, please check the list for names of your grantees or partners, and alert them.
The details should be updated by filing form FC-6 online at https://fcraonline.nic.in/fc_public_login.aspx?Resp_Id=3
If you don't update the details by 22nd June, you may face further action by FCRA Department.
And if you don't share this mail immediately with 10 others, then you alone will be responsible for any misfortune that may befall them! ;)
https://fcraonline.nic.in/home/PDF_Doc/fc_list_07062017.pdf
The list is sorted alphabetically. You can download and search it for your NGO's name. If you are a donor agency, please check the list for names of your grantees or partners, and alert them.
The details should be updated by filing form FC-6 online at https://fcraonline.nic.in/fc_public_login.aspx?Resp_Id=3
If you don't update the details by 22nd June, you may face further action by FCRA Department.
And if you don't share this mail immediately with 10 others, then you alone will be responsible for any misfortune that may befall them! ;)
Around 2,000 NGOs yet to validate FCRA designated accounts, says govt
Around 2,000 NGOs and institutions have not validated their foreign contribution designated accounts with banks, prompting the government to ask them to do it in a fortnight.
The Ministry of Home Affairs (MHA) has said that all NGOs and institutes registered under the Foreign Contribution Regulation Act (FCRA) should receive donations from abroad in a single designated bank account.
According to a latest analysis by the MHA, 2,025 NGOs have not yet validated their FCRA designated accounts. "It is seen that a number of NGOs have not validated their foreign contribution designated accounts causing problems for the banks to comply with the FCRA provisions that they (banks) report to the central government within 48 hours of such receipt or utilisation of foreign contribution," a recent MHA circular said.
"These associations are required to validate their foreign designated accounts and also the utilisation accounts within 15 days and send the details, including the bank branch, code, account number, IFSC etc.," it said.
The NGOs include Bangalore Rural Educational & Development Society, Bangalore Oniyavara Seva Coota and Hemophilia Society's Bengaluru chapter. The NGOs and institutions that find a place in the list also include Indian Red Cross Society, Tirumala Tirupati Devasthanam and SEWA among others.
The latest circular is part of a series of measures adopted by the NDA government to streamline foreign funds received by the NGOs and institutions. Last month, the MHA had asked 5,845 NGOs to open their accounts in banks having core banking facilities and provide details to allow security agencies to monitor it on a real time basis.
The directive to the NGOs came after an examination found that many of them maintain their accounts in cooperative banks or those without core banking facilities. It was seen as an obstacle by authorities dealing with NGOs in speedily detecting any discrepancies and that is why the NGOs have been asked to open their accounts in nationalised banks or private banks which have core banking facilities.
Source: http://www.deccanherald.com/content/616956/around-2000-ngos-yet-validate.html
The Ministry of Home Affairs (MHA) has said that all NGOs and institutes registered under the Foreign Contribution Regulation Act (FCRA) should receive donations from abroad in a single designated bank account.
According to a latest analysis by the MHA, 2,025 NGOs have not yet validated their FCRA designated accounts. "It is seen that a number of NGOs have not validated their foreign contribution designated accounts causing problems for the banks to comply with the FCRA provisions that they (banks) report to the central government within 48 hours of such receipt or utilisation of foreign contribution," a recent MHA circular said.
"These associations are required to validate their foreign designated accounts and also the utilisation accounts within 15 days and send the details, including the bank branch, code, account number, IFSC etc.," it said.
The NGOs include Bangalore Rural Educational & Development Society, Bangalore Oniyavara Seva Coota and Hemophilia Society's Bengaluru chapter. The NGOs and institutions that find a place in the list also include Indian Red Cross Society, Tirumala Tirupati Devasthanam and SEWA among others.
The latest circular is part of a series of measures adopted by the NDA government to streamline foreign funds received by the NGOs and institutions. Last month, the MHA had asked 5,845 NGOs to open their accounts in banks having core banking facilities and provide details to allow security agencies to monitor it on a real time basis.
The directive to the NGOs came after an examination found that many of them maintain their accounts in cooperative banks or those without core banking facilities. It was seen as an obstacle by authorities dealing with NGOs in speedily detecting any discrepancies and that is why the NGOs have been asked to open their accounts in nationalised banks or private banks which have core banking facilities.
Source: http://www.deccanherald.com/content/616956/around-2000-ngos-yet-validate.html
Around 2,000 NGOs yet to validate FCRA designated accounts, says govt
Around 2,000 NGOs and institutions have not validated their foreign contribution designated accounts with banks, prompting the government to ask them to do it in a fortnight.
The Ministry of Home Affairs (MHA) has said that all NGOs and institutes registered under the Foreign Contribution Regulation Act (FCRA) should receive donations from abroad in a single designated bank account.
According to a latest analysis by the MHA, 2,025 NGOs have not yet validated their FCRA designated accounts. "It is seen that a number of NGOs have not validated their foreign contribution designated accounts causing problems for the banks to comply with the FCRA provisions that they (banks) report to the central government within 48 hours of such receipt or utilisation of foreign contribution," a recent MHA circular said.
"These associations are required to validate their foreign designated accounts and also the utilisation accounts within 15 days and send the details, including the bank branch, code, account number, IFSC etc.," it said.
The NGOs include Bangalore Rural Educational & Development Society, Bangalore Oniyavara Seva Coota and Hemophilia Society's Bengaluru chapter. The NGOs and institutions that find a place in the list also include Indian Red Cross Society, Tirumala Tirupati Devasthanam and SEWA among others.
The latest circular is part of a series of measures adopted by the NDA government to streamline foreign funds received by the NGOs and institutions. Last month, the MHA had asked 5,845 NGOs to open their accounts in banks having core banking facilities and provide details to allow security agencies to monitor it on a real time basis.
The directive to the NGOs came after an examination found that many of them maintain their accounts in cooperative banks or those without core banking facilities. It was seen as an obstacle by authorities dealing with NGOs in speedily detecting any discrepancies and that is why the NGOs have been asked to open their accounts in nationalised banks or private banks which have core banking facilities.
Source: http://m.dailyhunt.in/news/india/english/deccan+herald-epaper-deccan/around+2+000+ngos+yet+to+validate+fcra+designated+accounts+says+govt-newsid-68861245
The Ministry of Home Affairs (MHA) has said that all NGOs and institutes registered under the Foreign Contribution Regulation Act (FCRA) should receive donations from abroad in a single designated bank account.
According to a latest analysis by the MHA, 2,025 NGOs have not yet validated their FCRA designated accounts. "It is seen that a number of NGOs have not validated their foreign contribution designated accounts causing problems for the banks to comply with the FCRA provisions that they (banks) report to the central government within 48 hours of such receipt or utilisation of foreign contribution," a recent MHA circular said.
"These associations are required to validate their foreign designated accounts and also the utilisation accounts within 15 days and send the details, including the bank branch, code, account number, IFSC etc.," it said.
The NGOs include Bangalore Rural Educational & Development Society, Bangalore Oniyavara Seva Coota and Hemophilia Society's Bengaluru chapter. The NGOs and institutions that find a place in the list also include Indian Red Cross Society, Tirumala Tirupati Devasthanam and SEWA among others.
The latest circular is part of a series of measures adopted by the NDA government to streamline foreign funds received by the NGOs and institutions. Last month, the MHA had asked 5,845 NGOs to open their accounts in banks having core banking facilities and provide details to allow security agencies to monitor it on a real time basis.
The directive to the NGOs came after an examination found that many of them maintain their accounts in cooperative banks or those without core banking facilities. It was seen as an obstacle by authorities dealing with NGOs in speedily detecting any discrepancies and that is why the NGOs have been asked to open their accounts in nationalised banks or private banks which have core banking facilities.
Source: http://m.dailyhunt.in/news/india/english/deccan+herald-epaper-deccan/around+2+000+ngos+yet+to+validate+fcra+designated+accounts+says+govt-newsid-68861245
Validate your accounts or no foreign funds: Government to NGOs
According to a circular issued on June 7 2017, the NGOs have been asked to validate the accounts within 15 days.
HIGHLIGHTS
1. Government asks NGOs to submit details of their bank accounts.
2. NGOs must validate their accounts to continue receiving foreign funds.
3. Government had cancelled FCRA licences of around 20,000 in December, 2016.
The government has asked over 2000 non-government organisations or NGOs to validate their bank accounts designated to receive funds from foreign countries. Failure to do so could invite action.
Sources in the Home Ministry told India Today that the strict directive has come after several NGOs ignored previous notifications in this regard.
According to a circular issued on June 7 2017, the NGOs have been asked to validate the accounts within 15 days. The circular said all NGOs registered under the Foreign Contribution Regulation Act (FCRA) should receive donations from abroad in a single designated bank account.
In December last year, the government had cancelled FCRA licences of around 20,000 of 33,000 NGOs after they were found to be allegedly violating various provisions of the FCRA.
As per FCRA, if an NGO is put under prior permission category, it is barred to receive foreign funding from abroad without taking permission from the home ministry.
Source: http://indiatoday.intoday.in/story/ngos-foreign-funding-home-ministry-fcra/1/973455.html
HIGHLIGHTS
1. Government asks NGOs to submit details of their bank accounts.
2. NGOs must validate their accounts to continue receiving foreign funds.
3. Government had cancelled FCRA licences of around 20,000 in December, 2016.
The government has asked over 2000 non-government organisations or NGOs to validate their bank accounts designated to receive funds from foreign countries. Failure to do so could invite action.
Sources in the Home Ministry told India Today that the strict directive has come after several NGOs ignored previous notifications in this regard.
According to a circular issued on June 7 2017, the NGOs have been asked to validate the accounts within 15 days. The circular said all NGOs registered under the Foreign Contribution Regulation Act (FCRA) should receive donations from abroad in a single designated bank account.
In December last year, the government had cancelled FCRA licences of around 20,000 of 33,000 NGOs after they were found to be allegedly violating various provisions of the FCRA.
As per FCRA, if an NGO is put under prior permission category, it is barred to receive foreign funding from abroad without taking permission from the home ministry.
Source: http://indiatoday.intoday.in/
Thursday, June 15, 2017
NGOs asked to validate bank accounts for foreign contributions within fortnight
NEW DELHI: The Centre today directed 2,025 NGOs to validate their foreign contribution designated accounts with banks and inform the same to the Home Ministry within the next fortnight.
In a circular, the home ministry said all NGOs which were registered under the Foreign Contribution Regulation Act (FCRA) should receive donations from abroad in a single designated bank account.
However, it is seen that a number of NGOs have not validated their foreign contribution designated accounts causing problems for the banks to comply with the FCRA provisions that they (banks) report to the central government within 48 hours of such receipt or utilisation of foreign contribution.
"These associations are required to validate their foreign designated accounts and also the utilisation accounts within 15 days and send the details, including the bank branch, code, account number, IFSC etc.," joint secretary (foreigners) in the home ministry Mukesh Mittal said.
The home ministry also announced a list of 2,025 NGOs which have not yet validated their FCRA designated accounts.
The Modi government, which has tightened the rules for NGOs, has already cancelled registration of more than 10,000 organisations in the last three years for allegedly non-filing of annual returns as mandated in the FCRA.
In addition, renewals of more than 1,300 NGOs have been denied or closed in recent past for allegedly violating various provisions of the FCRA.
Recently, the home ministry has asked nearly 6,000 NGOs to open their accounts in banks having core banking facilities and furnish details for real time access to security agencies in case of any discrepancy.
The move was initiated after it was detected that many NGOs have their bank accounts in cooperative banks or state government owned apex banks or banks which do not have core banking facilities.
Last month, the home ministry had directed all FCRA registered NGOs to submit their annual income and expenditure records by June 14 failing which the registration will be cancelled.
The order came after it was found that many NGOs have not filed their annual returns for five years -- 2010-11 to 2014- 15.
In November, 2016, the government had directed more than 11,000 NGOs to file applications for renewal of registration by February 28, 2017.
Of the above, 3,500 NGOs have filed applications for renewal till February 2017. Registration of more than 7,000 NGOs were deemed expired due to non-filing of renewal applications.
Source: http://economictimes.indiatimes.com/ngos-asked-to-validate-bank-accounts-for-foreign-contributions-within-fortnight/articleshow/59040957.cms
In a circular, the home ministry said all NGOs which were registered under the Foreign Contribution Regulation Act (FCRA) should receive donations from abroad in a single designated bank account.
However, it is seen that a number of NGOs have not validated their foreign contribution designated accounts causing problems for the banks to comply with the FCRA provisions that they (banks) report to the central government within 48 hours of such receipt or utilisation of foreign contribution.
"These associations are required to validate their foreign designated accounts and also the utilisation accounts within 15 days and send the details, including the bank branch, code, account number, IFSC etc.," joint secretary (foreigners) in the home ministry Mukesh Mittal said.
The home ministry also announced a list of 2,025 NGOs which have not yet validated their FCRA designated accounts.
The Modi government, which has tightened the rules for NGOs, has already cancelled registration of more than 10,000 organisations in the last three years for allegedly non-filing of annual returns as mandated in the FCRA.
In addition, renewals of more than 1,300 NGOs have been denied or closed in recent past for allegedly violating various provisions of the FCRA.
Recently, the home ministry has asked nearly 6,000 NGOs to open their accounts in banks having core banking facilities and furnish details for real time access to security agencies in case of any discrepancy.
The move was initiated after it was detected that many NGOs have their bank accounts in cooperative banks or state government owned apex banks or banks which do not have core banking facilities.
Last month, the home ministry had directed all FCRA registered NGOs to submit their annual income and expenditure records by June 14 failing which the registration will be cancelled.
The order came after it was found that many NGOs have not filed their annual returns for five years -- 2010-11 to 2014- 15.
In November, 2016, the government had directed more than 11,000 NGOs to file applications for renewal of registration by February 28, 2017.
Of the above, 3,500 NGOs have filed applications for renewal till February 2017. Registration of more than 7,000 NGOs were deemed expired due to non-filing of renewal applications.
Source: http://economictimes.indiatimes.com/ngos-asked-to-validate-bank-accounts-for-foreign-contributions-within-fortnight/articleshow/59040957.cms
Validate foreign fund a/cs or face action, govt tells NGOs
NEW DELHI: The government on Wednesday asked over 2,000 NGOs to validate their accounts designated to receive foreign funds and inform the Union home ministry after several organisations failed to do so. Failure to validate the accounts within the stipulated time could invite action, sources in MHA said.
According to a circular issued on Wednesday, the NGOs have been asked to validate the accounts within 15 days. The circular said all NGOs registered under the Foreign Contribution Regulation Act (FCRA) should receive donations from abroad in a single designated bank account.
However, it is seen that a number of NGOs have not validated their foreign contribution designated accounts causing problems for the banks to comply with the FCRA provisions that they (banks) report to the central government within 48 hours of such receipt or utilisation of foreign contribution, it said.
"These associations are required to validate their foreign designated accounts and also the utilisation accounts within 15 days and send the details, including the bank branch, code, account number, IFSC etc," joint secretary (foreigners) in the home ministry Mukesh Mittal said. The MHA attached a list of 2,025 NGOs which have not yet validated their FCRA designated accounts.
In last three years, the NDA government has tightened the rules for NGOs. It has already cancelled registration of more than 10,000 organisations for allegedly non-filing of annual returns as mandated in the FCRA. The renewal of licence more than 1,300 NGOs has also been denied or scrapped in the recent past.
Source: http://timesofindia.indiatimes.com/india/validate-foreign-fund-a/cs-or-face-action-govt-tells-ngos/articleshow/59044942.cms
According to a circular issued on Wednesday, the NGOs have been asked to validate the accounts within 15 days. The circular said all NGOs registered under the Foreign Contribution Regulation Act (FCRA) should receive donations from abroad in a single designated bank account.
However, it is seen that a number of NGOs have not validated their foreign contribution designated accounts causing problems for the banks to comply with the FCRA provisions that they (banks) report to the central government within 48 hours of such receipt or utilisation of foreign contribution, it said.
"These associations are required to validate their foreign designated accounts and also the utilisation accounts within 15 days and send the details, including the bank branch, code, account number, IFSC etc," joint secretary (foreigners) in the home ministry Mukesh Mittal said. The MHA attached a list of 2,025 NGOs which have not yet validated their FCRA designated accounts.
In last three years, the NDA government has tightened the rules for NGOs. It has already cancelled registration of more than 10,000 organisations for allegedly non-filing of annual returns as mandated in the FCRA. The renewal of licence more than 1,300 NGOs has also been denied or scrapped in the recent past.
Source: http://timesofindia.indiatimes.com/india/validate-foreign-fund-a/cs-or-face-action-govt-tells-ngos/articleshow/59044942.cms
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