77 NGOs under scanner of enforcement agencies

Saturday, 27 November 2010, 00:05 IST
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New Delhi: The government is probing funds received by 77 NGOs from foreign shores, including tax havens, to find out their sources, suspected forex violation and alleged illegal investment. The probe has been launched after the Intelligence Bureau (IB) shared with the Financial Intelligence Unit (FIU) the activities of the non-government organisations and their suspected foreign sources of funds. The investigations by the enforcement agencies will try to find out from which countries the NGOs were receiving the funds from, have they followed RBI regulations to bring in funds, the beneficiaries of the money, whether proper returns have been filed to the Income Tax department and their expenditure details, sources said. The action came after the Economic Intelligence Council expressed the need for a mechanism to track, collate and analyse inward foreign remittances.
Source: PTI
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