Foreign contribution to be received only in ‘‘FCRA Account’’ in SBI Main Branch New Delhi

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:

• CBDT Instruction can not absolve persons to explain source of gold within limits specified – SC
• Empanelment of General Observers for ICSI Examinations December 2026. Last date 16.11.2026
• ITAT address some important issues relating to deduction u/s 80IA
• Mere carry forward of loss can not be denied for belated return – ITAT
• Sales duly recorded in books & VAT returns, can’t be held bogus without cogent adverse material

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

Download Notification Click Here >>