03 July, New Delhi
The Home Ministry has warned Non Government Organizations or NGOs of hefty penalty which have not furnished annual income and expenditure statement for two consecutive years.
In a gazette notification, it said, such NGOs will have to face a penalty totalling ten per cent of foreign contributions received by them or 10 lakh rupees.
According to an official estimate, less than 10 per cent of nearly 30 lakh registered NGOs across the country file their annual income and expenditure statements or annual returns.
Registration under Foreign Contribution Regulation Act (FCRA) of around 15,000 NGOs were cancelled by the government in last two years for not furnishing annual returns.