Foreign contribution to be received only in ‘‘FCRA Account’’ in SBI Main Branch 11 Sansad Marg New Delhi
The Foreign Contribution (Regulation) Amendment Act, 2020 amended section 17 of The Foreign Contribution (Regulation) Act, 2010 to provide that every person who has been granted certificate or prior permission under section 12 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, as the Central Government may, by notification, specify and for other consequential matters relating thereto.
Now, 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 the said sub-section.
The notification issued is as under:
- High Court grants bail to Income Tax Officer accused of demanding bribe of Rs. 25000/-
- ICAI bans Twelve Chartered Accountants being guilty of professional misconduct
- Cash deposit in demonetisation held exempt assessee being resident of Arunachal Pradesh
- ITAT deleted addition made on presumption – there cannot be loss in restaurant business
- Rent of plot taxed as income from other sources in absence of proof of structure on it
MINISTRY OF HOME AFFAIRS
NOTIFICATION
New Delhi, the 7th October, 2020
S.O. 3479(E).—In exercise of the powers conferred by sub-section (1) of section 17 of the Foreign Contribution (Regulation) Act, 2010 (42 of 2010), the Central Government hereby specifies the State Bank of India, New Delhi Main Branch, 11, Sansad Marg, New Delhi-110001 as the branch for the purposes of the said sub-section.
[F. No. II/21022/23(35)/2019-FCRA-III]
ASHUTOSH AGNIHOTRI, Jt.Secy