01 July 2024
One of my cousins is running an NGO (women’s welfare) WCD – under- PFMS. As per the instructions of Government of India, she has opened FCRA account to receive donations from foreign. If any amount is received in this FCRA account, what is the procedure to withdraw this fund? She has another current account of same NGO in to which she receives local donations. Is it permissible to transfer funds from FCRA to local account and then spend from that account? R S Sai Kumar
CAclubindia
