It is an educational trust, they have filed IT returns for the last 2 years(A.Y 2009-10, 2010-11)
Now they want to get registered with FCRA for availing foreign contributions
kindly tell me the step by step procedures.
senthil (consultant) (139 Points)
01 July 2010It is an educational trust, they have filed IT returns for the last 2 years(A.Y 2009-10, 2010-11)
Now they want to get registered with FCRA for availing foreign contributions
kindly tell me the step by step procedures.
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 26 April 2011
| Originally posted by : senthil | ||
 |
It is an educational trust, they have filed IT returns for the last 2 years(A.Y 2009-10, 2010-11) Now they want to get registered with FCRA for availing foreign contributions kindly tell me the step by step procedures. |
 |
FCRA registrations are of 2 types :-
1.Prior Approval- Requirement for prior approval before receiving any funds
2. Permanent Registration- Funds can be received as and when desired by the donee & donors .
An organisation in formative stage is not eligible for permanent registration. Such organisation may apply for grant of prior permission under the law. For grant of permanent registration, the association should:
(i) be registered under the Societies Registration Act, 1860 or the Indian Trusts Act, 1882 or section 25 of the Companies Act, 1956;
(ii) be in existence for at least three years and have made significant contribution in chosen area of activity. For this purpose, the association should have spent at least Rs.6,00,000 over last three
years on its activities, excluding administrative expenditure. Statement of Income & Expenditure duly audited by Chartered Accountant for last three years may be enclosed to substantiate financial parameter.
Anuj
0-9810106211
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