Escolar Documentos
Profissional Documentos
Cultura Documentos
NGOs
23rd October, 2009
East Delhi CA CPE Study Circle
NIRC of ICAI
New Delhi
CA SUDHIR VARMA
FCA; CIA (USA)
Formation of NGOs
Constituents
1.
2.
3.
Trust
- Registered document
Society
- Registrar of Societies
Company - Sec. 25 of the Companies Act, 1956
Trust
1.
2.
3.
4.
5.
6.
No separate Act
Trust Deeds can be registered
Settler
Corpus
Trustees
Trust Deed
Trust Deed
1.
2.
3.
4.
5.
6.
Societies
Status
- Delhi / state
- All India
Societies
1.
2.
Societies
1.
Memorandum of Association
- name
- objects
- profits/benefits to promoters/board members
- dissolution clause
- subscribers
Societies
1.
Societies
1.
Registration
- covering letter in a file cover
- power of attorney
- affidavit from secretary / president
- NOC for registered office
- Memorandum of Association & Rules and
Regulations signed by each promoter on each
page
- proofs of addresses for all promoters
Societies
1.
2.
Certificate of Registration
Certified copies from Registrar of
- Memorandum of Association
- Rules & Regulations
Societies
1.
Registrations
- PAN
- TAN
- u/s 12AA of Income Tax Act
- u/s 80G of Income Tax Act
- IEC code
- VAT
Societies
1.
2.
3.
Companies
1.
Audit of NGOs
Types of Audit
1.
2.
3.
4.
5.
6.
Engagement
1.
2.
3.
4.
5.
Audit approach
1.
2.
3.
4.
5.
Transaction
based audit
System / Risk based audit
Compliance / Statutory audit (as usual)
5.
6.
7.
1.
2.
3.
4.
5.
Efficiency audit
1.
2.
3.
4.
5.
Computerized Environment
1.
2.
3.
4.
5.
Statutory Compliances
Income Tax Act
2.
FCRA / FEMA / RBI
3.
Registration laws
4.
Labour laws
5.
VAT / Service Tax
6.
Commercial laws
7.
Protection laws
8. General laws
1.
Q&A
Thank you
SUDHIR VARMA
FCA; CIA (USA)