Fcra
This query is : Resolved
02 April 2016
Dear Friends,
One of my friend is running educational trust. His another friend residing in USA wants to donate a huge amount for his trust. I want to know, What is FCRA ? And what is the procedure of getting FCRA ? Can my friend get donation without FCRA ? How long will it take to get FCRA Approval ?
02 April 2016
FCRA is Foreign Contribution Regulation Act. Trust having 3 years old can apply for registration the time limit normally is 90 days from the date of application for getting registration.
If the friend residing in USA is a NRI and having Indian passport no FCRA registration required for receiving the donation from him.
If the friend residing in USA is a NRI and having Indian passport no FCRA registration required for receiving the donation from him.
02 April 2016
Types of FCRA Registration: -.
There are 2 kinds of Foreign Contribution Regulation Act certificates;.
1. Prior consent certification which is possible after one year.
2. Long-term certificate for 5 years.
For Prior Approval, these criterias should be fulfilled:-.
1. Prior authorization certificate is provided those NGOs who have finished a minimum of one year in running.
2. The non government organization has to offer the list of foreign benefactors in addition to their addresses, classifications and cause for which they are donating.
3. The public welfare organization needs to point out the overall quantity of cash which is being received as a foreign donation.
For Foreign Contribution Regulation Act certification for 5 years, these criterias shall be satisfied.
1. The Non Government Company must be three years old.
2. Last 3 years annual report, audit report should be sent.
3. Copy of pan card, Bye laws of the ngo shall also be offered.
There are 2 kinds of Foreign Contribution Regulation Act certificates;.
1. Prior consent certification which is possible after one year.
2. Long-term certificate for 5 years.
For Prior Approval, these criterias should be fulfilled:-.
1. Prior authorization certificate is provided those NGOs who have finished a minimum of one year in running.
2. The non government organization has to offer the list of foreign benefactors in addition to their addresses, classifications and cause for which they are donating.
3. The public welfare organization needs to point out the overall quantity of cash which is being received as a foreign donation.
For Foreign Contribution Regulation Act certification for 5 years, these criterias shall be satisfied.
1. The Non Government Company must be three years old.
2. Last 3 years annual report, audit report should be sent.
3. Copy of pan card, Bye laws of the ngo shall also be offered.
02 April 2016
Agree with sir for the last two lines what they said.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- RCM INVOICING FROM NOV-2024
- Confusion around Form 26QB fields
- Tds on building rent monthly
- Sale of property furniture sale
- Applicability of Tax audit u/s 44AB of income tax act, 1961
- Question about eligibility for tax rebate u/s 87A
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- GST Regis.
- IGST Credit-Show cause notice issued-confusion
Trending Online Classes
CAclubindia
