Q: Can an NGO carry forward unspent admin expenses under FCRA?
A: Allowable admin expenditure as defined in Rule 5 of FCR Rules for FCRA registered entities is 20% of FC RECEIPTS for the year. MHA has provided relief for non utilization of allowable administrative expenditure in a particular year by providing carry forward facility. Form FC 4 has been modified to include clause 4 (iv) (the form is attached for your reference). As we close FY 2024-25, please ensure…continue reading
Q: Our organisation is a registered non-profit with 13 employees on payroll. Do we need to legally make provision for gratuity, even if no one has completed 5 years yet?
A: Under Payment of Gratuity Act 1972, an employer who employs 10 or more to provide for Gratuity. This obligation would continue even if subsequently the no falls below…continue reading
Q: How to register as an NPO?
A: There are 3 forms of organizations permitted to undertake public charitable activity in India i.e. Society, Trust or Section 8 Company and governed by respective constitution laws. For society, you need to register under…continue reading
Q: What percentage of annual turnover of a non-profit with 12A certificate can be its business income without paying tax?
A: A non-profit organization can have incidental business income adjunct to its objects. It cannot do pure commercial activity. The business income for the first six limbs i.e. relief for the poor, medical relief, yoga…continue reading
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Upcoming Compliance Dates
20th May: GSTR-3B under monthly scheme
22nd May: GSTR-3B under QRMP for Category X states
24th May: GSTR-3B under QRMP for Category Y states
30th May: Form 1A - Annual Disclosures Report
31st May: 24-25 Q4 TDS return; Form 10BD & 10BE
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Warm regards,
PATTIC
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