Changes in FCRA Rules
As per Foreign Contribution (Regulation) Amendment Rules, 2015 notified in Gazette of India on 14.12.2015, the Bank shall report to the Central Government within forty-eight hours any transaction in respect of receipt and utilization of any foreign contribution by any person whether or not such person is registered or granted prior permission under the Foreign Contribution (Regulation) Act, 2010. Consequently, it has been decided to bring all FCRA designated bank accounts and utilization accounts held by the associations granted registration or prior permission on the online platform of Public Finance Management Service for accessing these accounts for random scrutiny.
This was stated by the Minister of State for Home Affairs, Shri Kiren Rijiju in written reply to a question by Dr. K. P. Ramalingam in the Rajya Sabha today.
Bank was liable to pay compensation to borrower as it did not verify the progress of construction before loan disbursals…
No timeline mentioned in PMLA to forward the arrest order and the material in possession to the Adjudicating Authority. It…
Whether the release of seized assets is mandatory upon completion of 120 days –High Court refers the case to a…
EPFO Extends date of filing of new ECR for the wage month September to 31st October 2026 Taking into account…
Earlier acceptance of investment is a relevant evidence in evaluating subsequent allegation that investments were fictitious from inception – High…
A bald statement recorded during survey would not in itself be a foundation for any addition - ITAT In a…