Primary Country (Mandatory)

United States

Other Country (Optional)

Set News Language for United States

Primary Language (Mandatory)
English
Other Language[s] (Optional)
No other language available

Set News Language for World

Primary Language (Mandatory)
English
Other Language(s) (Optional)

Set News Source for United States

Primary Source (Mandatory)
CNN
Other Source[s] (Optional)

Set News Source for World

Primary Source (Mandatory)
AajTak
Other Source(s) (Optional)
  • Countries
    • India
    • United States
    • Qatar
    • Germany
    • China
    • Canada
    • World
  • Categories
    • National
    • International
    • Business
    • Entertainment
    • Sports
    • Special
    • All Categories
  • Available Languages for United States
    • English
  • All Languages
    • English
    • Hindi
    • Arabic
    • German
    • Chinese
    • French
  • Sources
    • India
      • AajTak
      • NDTV India
      • The Hindu
      • India Today
      • Zee News
      • NDTV
      • BBC
      • The Wire
      • News18
      • News 24
      • The Quint
      • ABP News
      • Zee News
      • News 24
    • United States
      • CNN
      • Fox News
      • Al Jazeera
      • CBSN
      • NY Post
      • Voice of America
      • The New York Times
      • HuffPost
      • ABC News
      • Newsy
    • Qatar
      • Al Jazeera
      • Al Arab
      • The Peninsula
      • Gulf Times
      • Al Sharq
      • Qatar Tribune
      • Al Raya
      • Lusail
    • Germany
      • DW
      • ZDF
      • ProSieben
      • RTL
      • n-tv
      • Die Welt
      • Süddeutsche Zeitung
      • Frankfurter Rundschau
    • China
      • China Daily
      • BBC
      • The New York Times
      • Voice of America
      • Beijing Daily
      • The Epoch Times
      • Ta Kung Pao
      • Xinmin Evening News
    • Canada
      • CBC
      • Radio-Canada
      • CTV
      • TVA Nouvelles
      • Le Journal de Montréal
      • Global News
      • BNN Bloomberg
      • Métro
MoreBack to News Headlines
Audit Report Flags Data Non-Sharing Between Tax Deparment, Home Ministry

Audit Report Flags Data Non-Sharing Between Tax Deparment, Home Ministry

NDTV
Tuesday, August 9, 2022 9:27 AM GMT

Comptroller & Auditor General's (CAG) Performance Audit report on 'Exemptions to Charitable Trusts and Institutions' noticed 35 assessment cases where the trusts/institutions received foreign contributions without having registration.

The CAG has slammed the income tax department for not formulating a data sharing mechanism with the Home Ministry to keep track of foreign contributions received and their utilisation for the declared purpose by charitable trusts and institutions.

The Comptroller & Auditor General's (CAG) Performance Audit report on 'Exemptions to Charitable Trusts and Institutions' noticed 35 assessment cases where the trusts/institutions received foreign contributions without having registration under FCRA, mismatch of figures of foreign contribution shown in ITR and that disclosed with the MHA, donation of foreign contribution by recipient trust to other trusts that were not registered under the FCRA 2010 or investment in foreign contribution in speculative mode.

In all the cases, the department had allowed exemption on such foreign contributions involving tax effect of Rs 182.10 crore, said the report tabled in Parliament on Monday. Non-government organisations (NGOs)/ trusts are allowed to receive foreign contributions (FCs) under the Foreign Contribution (Regulation) Act (FCRA). The Home Affairs Ministry monitors the receipts of FC.

The FCRA envisages registration of recipient of FCs with the ministry and also stipulates maintenance of separate accounts in a designated bank for the FCs received and the purpose of its receipt in the accounts. The returns are to be submitted annually to the Ministry of Home Affairs (MHA).

Read full story on NDTV
Share this story on:-
Run 3 Space | Play Space Running GamePlay Run 3, the ultimate space tunnel running game with 300+ challenging levels!Adv.
Traffic Jam 3D | Online Racing GameTraffic Jam 3D is a game where you’ll be driving through heavy traffic.Adv.
Duck Hunt | Play Old Classic GamePlay the classic 1984 light gun shooter game Duck Hunt on your browser.Adv.
More Related News
Parking Slot | Free Parking GamePlay Parking Slot, the best online 3D car driving and parking game.Adv.
Slope Ball Run - Play OnlineSlope Game takes you on an exciting journey of a ball on special paths.Adv.
© 2008 - 2025 Webjosh  |  News Archive  |  Privacy Policy  |  Contact Us