forein contribution act 2010
This query is : Resolved
16 May 2011
Can a trust accept foreign contribution as second receipient under the new FCRA Act 2010
16 May 2011
what do you mean with second recipient.
As per my understanding the following should be applicable in your case:-
Procedure for transferring foreign contribution to other registered or unregistered persons. –
(1) Any person intending to transfer the foreign contribution may make an application to the Central Government in Form FC-10….
(4) In case the foreign contribution is proposed to be transferred to a person who has not been granted a certificate of registration or prior permission by the Central Government, the person concerned may apply for permission to the Central Government to transfer a part of the foreign contribution, not exceeding ten per cent, of the total value of the foreign contribution received. The application shall be countersigned by the District Magistrate having jurisdiction in the place where the transferred funds are sought to be utilised. The District Magistrate concerned shall take an appropriate decision in the matter within sixty days of the receipt of such request from the person. The donor shall not transfer any foreign contribution until the Central Government has approved the transfer.
Anuj
0-9810106211
As per my understanding the following should be applicable in your case:-
Procedure for transferring foreign contribution to other registered or unregistered persons. –
(1) Any person intending to transfer the foreign contribution may make an application to the Central Government in Form FC-10….
(4) In case the foreign contribution is proposed to be transferred to a person who has not been granted a certificate of registration or prior permission by the Central Government, the person concerned may apply for permission to the Central Government to transfer a part of the foreign contribution, not exceeding ten per cent, of the total value of the foreign contribution received. The application shall be countersigned by the District Magistrate having jurisdiction in the place where the transferred funds are sought to be utilised. The District Magistrate concerned shall take an appropriate decision in the matter within sixty days of the receipt of such request from the person. The donor shall not transfer any foreign contribution until the Central Government has approved the transfer.
Anuj
0-9810106211
17 May 2011
dear sir,
second receipient in our case means foreign contribution is received by an institution in India having FCRA registration . From that institution a part of foreign contribution is transferred to our trust . we also have FCRA registration. Can we accept such contribution in our FCRA A/c
second receipient in our case means foreign contribution is received by an institution in India having FCRA registration . From that institution a part of foreign contribution is transferred to our trust . we also have FCRA registration. Can we accept such contribution in our FCRA A/c
17 May 2011
The FCRA Department has clarified in writing that prior-permission is not required for transferring funds to FCRA registered organizations. However, the transferor needs to make sure that the receiving organisation has not been ‘proceeded against’ by the FCRA Department.
Anuj
0-9810106211
Anuj
0-9810106211
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