Received the assent of the President on the 28th September, 2020 and is effective from 29th September, 2020 Amendment of section 3 In section 3 of the Foreign Contribution (Regulation) Act, 2010 (hereinafter referred to as the principal Act), in sub-section (1),— (i) for clause (c), the following clause shall be substituted, namely:— “(c) public […]
Category Archives: FCRA
20
Jun
Jun
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 […]
FCRA
Treatment of Money (donation / funding) from Foreign Companies / Subsidiaries of Foreign Companies in India In Local Accounts
18
Jun
Jun
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 […]