The NPO and NGO Sector in India and across the world has been playing a significant role to support and enhance public services and utilities as well as in multiple other areas-as an extended arm of the government. Hospitals, Educational Institutions , Sports and Cultural organisations, Supporting poor and Disabled etc. are amongst many other sectors where they contribute. Many of them are tax exempt and enjoy privileges. However their effective monitoring is essential in view of threats of money launderng, diversion of funds and indulgence in illegal domestic and cross boundary transactions. Better audits and streamlining registration are some ways to move ahead. FATF, OECD and several global agencies are already coordinating for immediate reforms.
This is a snapshot of some crucial issues which need awareness and hopefully be useful for some of you. Suggestions and superior ideas are always welcome.