Can NRI send some money in Section 25 Company ( a charitable foundation ) Account from his / her NRE or NRO account ? Any Tax or Declaration is Required to RBI ?.
ANTONY EDGAR
(CA in Practice)
(89 Points)
Replied 05 December 2012
Yes NRI can send money to sec 25 company and no declaration or approval is required from RBI.
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7019 Points)
Replied 11 December 2012
Yes an NRI can send money to sec. 25 Company PROVIDED the Indian sec. 25 Company is registered under FCRA.
Make sure that Indian Company is registered under FCRA otherwise that shall constitute violation of law.
Anuj
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