HelpYourNGO
<p>So now now that you mentioned nausea you know that it is companies earlier it was complied or explained now it`s comply or pay penalty right so on these lines what do you think are the key factors that companies should keep in mind while framing their csr strategy well first let me get into that because you know i think only legally so now companies first make sure that whosoever you are dealing with is registered as a trust society or a comp make sure they both have to have an atg and which is now also renewed please understand and uh 12-way and atg is now given only for a period of five years some ngos are managed to get their renewal under maybe some are still not of course there is still august so it is quite valid there is even a probability that the new date may be extended but please i i don`t speak on behalf of the income tax because the income tax bottle was supposed to come out with a seamless new portal on first of june and for those 50 days after this launch it</p>
<p>So now that you've mentioned nausea, you know that it is companies. Earlier it was "comply or explain," but now it's "comply or pay penalty." On these lines, what do you think are the key factors that companies should keep in mind while framing their CSR strategy?</p>
<p>Well, first, let me get into that because I think only legally. So now, companies must first make sure that whosoever you are dealing with is registered as a trust, society, or a company. Make sure they both have to have an ATG and a 12A, which is now also renewed, please understand. A 12A and an ATG are now given only for a period of five years.</p>
<p>Some NGOs have managed to get their renewal, maybe some are still not. Of course, there is still August, so it is quite valid. There is even a probability that the new date may be extended, but I don't speak on behalf of the Income Tax because the Income Tax portal was supposed to come out with a seamless new portal on the first of June, and for those 50 days after this launch, it completely went haywire, and it still has glitches which have not been fixed.</p>
<p>That's going to be another thing. If there is no further extension after the 30th of August, which is at the end of this month, companies are going to be very, very worried about giving funds to such institutions. Ensure that the NGO has a track record of three years of service and that they are registered under CSR1. Look at past performance. I have also noticed that a lot of companies do not give grants to NGOs. They have a works contract with them and charge them for TDS at the rate of 10% because they think they are providing a professional service and therefore TDS must be deducted. Then, under 194G, they also insist that the NGO should have GST, and they are quite happy and willing to pay GST because, of course, they would get a tax credit anyway for it. But this is not the way to go.</p>
<p>CSR must be given as a grant. The grant is in the nature of a gift. Please avoid works contracts and TDS. They exist for a purpose. So, that's an important point I wish to tell companies about. More importantly, give money to NGOs in tranches. I mean, and the worst thing that I see companies doing is offloading in February and March and then expecting the NGO to say, "Okay, I mean, how did you use my one crore of rupees after offloading it in the month of February and March, at the end of the financial year?" I think doing all that is not a good idea.</p>
<p>So, I thought, then again, I know I'm coming from an NGO perspective over here. There is a lot of suffering that I see out there, and there is a little bit of a disconnect which hopefully seminars and webinars like this will help to bridge.</p>
<p>I'll stop you on this, Nausea. Yes, thank you. Thank you for sharing your thoughts, Nausea, and I completely agree with the point that you make that, you know, though NGOs are receiving funding, it's usually towards the early part of Q4, wherein companies suddenly realize that they have an unspent CSR budget. So, in effect, yes, you know, they are going to do it, you might as well have better planning surrounding it.</p>
<p>currently went haywire and it still has glitches which has have not mixed so uh that`s going to be another thing if there is no further extension after 30th of august which is at the end of this month companies are going to be very very about giving funds to such institutions ensure that the ngo has track record of three years of service and that they are registered under csr1 look at part past performance i`ve also noticed that a lot of companies do not give grants to ngos they had a works contract with them and charge them uh for tds at the rate of 10 because they think they are providing a professional service and therefore tds must be deducted and then 194g they also insist that the ngo should have gst and they are quite happy and willing to pay gst because of course they would get a tax credit anyway for it but this is not the way to go csr must be given as a grant the grant is in the nature of a gift please avoid works contract i mean videos they exist for purpose so uh that`s an important point i wish to tell company about more importantly give money to ngos now in tranches i mean and the worst thing that i see companies doing offloading in the february and march and then expecting the ngo to say okay i mean how did you use my one crore of rupees after offloading it in the month of february and march at the end of the financial year i think not a good idea doing all that so i i thought then again i know i`m coming from an ngo perspective over here i mean uh there is a lot of suffering that i see out there and uh there is a little bit of a disconnect which uh hopefully seminars like these webinars like this will help to bridge so i`ll stop you on this channel yes thank you thank you for sharing your thoughts nausea and i completely agree with the point that you make that you know though ngos are receiving funding it`s usually towards uh your early part of q4 wherein companies suddenly realize that they and they have an unspent csr uh budget so in effect yes you know they are going to do it you might as well have better planning surrounding it [Music] so now now that you mentioned nausea you know that it is companies earlier it was complied or explained now it`s comply or pay penalty right so on these lines what do you think are the key factors that companies should keep in mind while framing their csr strategy well first let me get into that because you know i think only legally so now companies first make sure that whosoever you are dealing with is registered as a trust society or a comp make sure they both have to have an atg and which is now also renewed please understand and uh 12-way and atg is now given only for a period of five years some ngos are managed to get their renewal under maybe some are still not of course there is still august so it is quite valid there is even a probability that the new date may be extended but please i i don`t speak on behalf of the income tax because the income tax bottle was supposed to come out with a seamless new portal on first of june and for those 50 days after this launch it currently went haywire and it still has glitches which has have not mixed so uh that`s going to be another thing if there is no further extension after 30th of august which is at the end of this month companies are going to be very very about giving funds to such institutions ensure that the ngo has track record of three years of service and that they are registered under csr1 look at part past performance i`ve also noticed that a lot of companies do not give grants to ngos they had a works contract with them and charge them uh for tds at the rate of 10 because they think they are providing a professional service and therefore tds must be deducted and then 194g they also insist that the ngo should have gst and they are quite happy and willing to pay gst because of course they would get a tax credit anyway for it but this is not the way to go csr must be given as a grant the grant is in the nature of a gift please avoid works contract i mean videos they exist for purpose so uh that`s an important point i wish to tell company about more importantly give money to ngos now in tranches i mean and the worst thing that i see companies doing offloading in the february and march and then expecting the ngo to say okay i mean how did you use my one crore of rupees after offloading it in the month of february and march at the end of the financial year i think not a good idea doing all that so i i thought then again i know i`m coming from an ngo perspective over here i mean uh there is a lot of suffering that i see out there and uh there is a little bit of a disconnect which uh hopefully seminars like these webinars like this will help to bridge so i`ll stop you on this channel yes thank you thank you for sharing your thoughts nausea and i completely agree with the point that you make that you know though ngos are receiving funding it`s usually towards uh your early part of q4 wherein companies suddenly realize that they and they have an unspent csr uh budget so in effect yes you know they are going to do it you might as well have better planning surrounding it</p>
