Monthly Archives: June 2020

Process of Registration under the Foreign Contribution Regulation Act

In order for a person to register under the Foreign Contribution Regulation Act (FCRA), the concerned person must submit Form FC-3A (Application for FCRA Registration) to the Ministry of Home Affairs. Pre-Requisites for Application The following requisites / compliances need to be met before making the FC-3A application. The applicant entity is at least 3 […]

Treatment of Money (donation / funding) from Foreign Companies / Subsidiaries of Foreign Companies in India In Local Accounts

Note : This note is only to cover the changes made by the Finance Act 2016 and Finance Act 2018 redefining the concept of foreign source in respect of companies registered in India and compliant under FEMA. Background The FCRA regulates receipt of foreign contribution from any foreign source. “Foreign Source”, under Section 2(1)(j) subclause […]