Entities need not visit SBI Delhi to open FCRA Bank Account. Entities may visit any SBI branch for opening FCRA Bank Account
The Foreign Contribution (Regulations) Amendment Act 2020 provides that every person who has been granted FCRA certificate shall receive foreign contribution only in an account designated as ‘‘FCRA Account’’ which shall be opened by him in such branch of the State Bank of India at New Delhi.
The Finance Ministry has notified State Bank of India (SBI), New Delhi Main Branch, 11, Sansad Marg, New Delhi-110001 as the branch for the purposes of receiving the foreign contribution.
The State Bank of India in a communication addressed to Ministry of Home Affairs (FCRA Division) has clarified that for the purpose of opening of FCRA bank account, the entities need not visit to Delhi and instead they can visit any branch of their choice near to them.
The SBI has also communicated the same to nearly 23000 entities along with format of FEMA declaration cum Undertaking, list of documents required for opening FCRA accounts.
The Ministry has already issued a Standard Operating Procedure ( SOP ) to open & operate the FCRA Account under amended FCAR 2020
CBDT condones delay in filing Form No. 10AB furnished electronically between 01.10.2025 to 31.03.2026. CBDT has condoned the delay in…
Supreme Court expresses serious concerns over AI generated judgments/paragraphs relied upon by the NCLT/NCLAT In a recent judgment, the Hon'ble…
ICAI to take disciplinary action for quoting very low and incommensurate fee by Chartered Accountants As per the announcement made…
NSDL latest e-TDS TCS RPU Version 6.0 from FY 2007-08 NSDL has revised the e-TDS TCS RPU utility for preparing…
Requirement for filing Form 67 for claiming Foreign Tax Credit (FTC) is only directory and not mandatory - ITAT In…
Limitation for invoking revisional jurisdiction u/s 263 with respect to issues not covered in re-assessment would start from the original…