Contact Your Financial Adviser Money Making MC
10
July 2017
The government has served show cause notices
to nearly 6,000 NGOs for not filing their annual income and expenditure details
for three or more years in a violation that may lead to cancellation of their
licenses to receive foreign funds. The
Total Investment & Insurance Solutions
The
Union Home Ministry in a circular issued on Monday said the notices have been
issued to 5,922 associations because they have failed to upload their annual
returns under the Foreign Contribution (Regulation) Act despite being given
adequate opportunities to do so.
"In spite of sufficient and adequate
notice, it has been observed that 5,922 associations have not uploaded their
annual returns for the three or more than three years within the stipulated
time given in the notice," the circular read. The Total Investment & Insurance Solutions
"Such
associations have now been issued show cause notice as to why their
registration under the Foreign Contribution (Regulation) Act, (FCRA) may not be
cancelled under Section 14 of FCRA, 2010, for failure to upload their annual
returns from 2010-11 to 2014-15."
It
said that the associations -- which include educational and missionary trusts,
shrine managements -- were given an opportunity by way of a public notice to
file their missing annual returns from 2010-11 to 2014-15 within a period of
one month time without payment of penalty or compounding fee for non filing of
annual returns.
"This was followed by regular alerts to
the associations but despite all this they didn't upload their annual
returns." The Total Investment
& Insurance Solutions
Associations
that receive foreign funds are required to submit their annual return for every
financial year beginning on April 1 within nine months of the closure of the
financial year.The Total Investment & Insurance
Solutions
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