Nurturing Partnerships for Developing Sustainable CSOs IIC, February 19, 2010 Latest Legislative Development By Deepak Bansal SMA Management Services (P)

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Presentation transcript:

Nurturing Partnerships for Developing Sustainable CSOs IIC, February 19, 2010 Latest Legislative Development By Deepak Bansal SMA Management Services (P) Ltd.

Presented by Deepak Bansal SMA Management Services (P) Ltd. Sec 2(15) – as at date 1. Definition of Charitable purposes: 1. Definition of Charitable purposes: 1.1 Education; 1.2 Medical relief; 1.3 Relief to the poor; 1.4 Preservation of environment and historical monuments; 1.5 Advancement of any other objects of general public utility Now from , carrying on business or trade is allowed only in case of all 1.1 to 1.4 activities and not in case of 1.5. Now from , carrying on business or trade is allowed only in case of all 1.1 to 1.4 activities and not in case of 1.5.

Presented by Deepak Bansal SMA Management Services (P) Ltd. 2. Relief to the poor is all encompassing (a saving grace). 3. Consequences of amended provisions: 3.1 What happens if a CSO engaged in other objects carry out business or trade. 3.2 What happens if CSO engaged in Micro finance 3.3 Consultancies organisation and public advocacy organisations are affected adversely. 3.4 In some cases, IT deptt. is raising objections on the consultancies in Memorandum and Charter of the CSO. As said above, exemption may be available if these are proved to be of relief to he poor. Sec 2(15) – as at date …………………. Contd.

Presented by Deepak Bansal SMA Management Services (P) Ltd. Limitation of section 2(15) 1. No tax exemptions for CSR initiative unless of charitable purposes Sec 2(15) – as at date …………………. Contd.

Presented by Deepak Bansal SMA Management Services (P) Ltd. Alternatives:  Consultancy organisation or R&D organisation may get exemptions u/s 35(1)(i)/(ii)  CSR initiative u/s 35AC Sec 2(15) – as at date …………………. Contd.

Presented by Deepak Bansal SMA Management Services (P) Ltd. Service tax applicability: 1. Whether NPO s’ are per se exempt from service tax. No, (refer to a circular no. 84/2/ 2006 dated ) No, (refer to a circular no. 84/2/ 2006 dated ) 2. Chargeability when CSO provides consultancies 2.1 Very much chargeable if the services are falling under either of the categories notified as taxable. 2.2 However, service tax is payable only when services fall under the categories listed. 2.3 Relief available- by claiming credit of input tax paid, 2.4 In case both exempt and taxable services are provided, CSO has the option of charging 6% on exempted services (as against regular 10% on exempted services). 3. Specific exemptions provided by Notifications in case of certain areas like business auxiliary services and commercial coaching and training centers.

Presented by Deepak Bansal SMA Management Services (P) Ltd. Latest in FCRA act: Induction of foreigners allowed in case the following conditions are fulfilled: 1. the foreigner is married to an Indian citizen; 2. the foreigner has been living and working in India for at least five years; 3. the foreigner has made available his/ her specialized knowledge, especially in the medical and health related fields on a voluntary basis in India, in the past; 4. The foreigner is part of the Board of trustee(s) / Executive committee in terms of the provisions in an Inter- govt. agreement. 5. The foreigner is part of the Board of Trustee(s) / Executive committee, in an ex-officio capacity representing a multilateral body which is exempted from the definition of foreigner source.