“Coming together is beginning; keeping together is progress; working together is success.” – Henry Ford
Forty-three Sisters from 8 Provinces and Central Delegation of the Congregation viz. Mangalore, Bangalore, Southern, Western, Northern, Eastern, Guwahati and Silchar and from Central delegation involved in temporal administration gathered in Vinayalaya Andheri East- Mumbai from 24th to 28th January 2024 for a 5 days seminar on Financial Management.
At the outset Sr. Violet Dsouza– Procurator General accorded a warm welcome to all the participants of the seminar and set the tone for the seminar.
Fr. Alex Gnanapragasam SJ an expert on Financial Management- was the resource person for the seminar. He spoke on Challenges and Compliances for the Registered Society, which helped us to update our knowledge, understand the legal provisions and the importance to comply with it. We are in an era of ever-increasing finance related statutory compliance. As days go by, the volume of compliance keeps increasing so much that quite many of us are at a loss.
Hedelved on the following topics:
1. Financial Compliances
2. Financial planning and Financial sustainability
3. Filling system
4. Registered Society related matters
5. Temporal Administration in the Society
6. Registered Trust/ Society (Legal Entities) and Civil Laws
He explained to us in details the understanding of Financial Laws related to Charitable Trusts (IT Exemption, TDS, GST, FCRA). He made us aware of the tax exemption for the charitable and religious trusts registered under sec 12AB, which is to be renewed every 5 years.
Practical sessions were conducted to prepare budget, income and expenditure, about balance sheet etc. On the whole the participants learned, about governance and financial management, the latest development of income tax department, the Tax Deduction at Source (TDS), Foreign Contribution Registration Act (FCRA), GST and many of the queries were answered by him.
In addition to the training, the participants also had the opportunity for Mumbai Dharshan to various historical and religious sites and enjoyed the company of each other.
We are profoundly grateful to Sr. Rose Celine our superior General and her team, Provincial Superiors and Sr. Violet Dsouza the Procurator General for the wonderful opportunity to come together to learn and to discuss the issues related to financial management.
News by: Sr. Harsha BS, Sr Anitha Shanthi BS