Here are some tips to help you with filing FC4
- Considering the design of the FC 4 template, admin expenses per project will have to be reduced from the FC receipts in col 6 in Table 3(a). The total in col 7 of Table 2 will not match with col 6 in Table 3(a) which is fine. However, the closing balance in col 10 in Table 3(1) then will be the correct closing balance and match with total in Table 4(iv) which is important.
- Only Fixed Assets shown as utilization in col 8 in Table 3(a) should be reported in Table 3(b). Need to provide location details in Table 3(b), 3(ba) and 3(bb)
- A new table 5 for carry forward of admin exp has been provided. The opening balance will be 0. Calculate 20% admin exp for FC receipt in FC 24-25. If admin exp is short of 20% threshold, the carry forward amount can be utilized in FY 25-26 only.
- In Table 4(i), FD made from FC receipts should be reported. Do not show this as utilization in col 8 in Table 3(a).
- Provide details of CA in clause 9 of FC 4
- Be careful while answering the 15 self-declaration in clause 8
- Use the revised latest CA certificate with sign and stamp. Download from services under FCRA tab of FCRA website fcraonline.ni.in
- Attach the complete audited financial statements for FY 24-25 not just BS, I&E and R&P. Reduce size to accommodate the complete set of AFS.
- Attach declaration from Chief functionary. Download from services under FCRA tab of FCRA website fcraonline.ni.in
CS Sharad Bhargava