Hello from PATTIC,
FCRA: Prior Permission Rules Amended
The Ministry of Home Affairs has updated the FCRA rules for organisations with prior permission to receive foreign funds. From now on, any approved project can be for a maximum of 3 years, and the funds must be used within 4 years of approval. These new rules also apply to existing approvals, which now have 3 years from the date of this public notice to comply. Not following these rules will be treated as a violation of the FCRA. Read the official notice here
FEMA: Additional Rules for Foreign Funds
Along with complying with FCRA, non-profits that receive foreign contributions also need to follow the Foreign Exchange Management Act (FEMA). FEMA governs foreign exchange transactions and includes separate reporting and documentation requirements. PACTA has written a helpful explainer that outlines what CSOs should keep in mind, especially if they are entering consultancy contracts or receiving funds from overseas. Read the article by PACTA here
Members Ask: Is a dissolution clause required in your trust deed to renew 12A and 80G?
Yes, it is. Read details here
Quick Overview of Compliance Calendar for April 2025
11th April: GSTR 1 under monthly scheme
13th April: GSTR 1 under QRMP
15th April: EPF and ESI
20th April: GSTR 3B under monthly scheme
22nd April: GSTR 3B under QRMP for X category states
24th April: GSTR 3B under QRMP for Y category states
30th April: TDS deposit for March 2025; EPF 3A
Professional Tax: As per prescribed date for respective state
View all dates for FY 2025-26 here
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Warm regards,
PATTIC
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