Fcra

This query is : Resolved

VISHVA VIJAY SHARMA (Querist)
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29 August 2012 please any one can tell me that micro finance by ngo to group of ladies through formation of a cluster is legal way to distribute seed money and permitted by fcra.

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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29 August 2012 FCRAis only applicable if money/charity/donation is received from foreign sources.

Anuj
Femaquery@gmail.com

VISHVA VIJAY SHARMA

VISHVA VIJAY SHARMA (Querist)
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29 August 2012 Anuj sir ngo get the donation for distribute the money as a seed money to beneficiaries, so can ngo distribute it through cluster system, is it legally possible

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CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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30 August 2012 There might be issues with the NBFC laws.

Also FCRA doesn't come into picture money from outside India is received.

Anuj
femaquery@gmail.com