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:

• A bland statement of ‘fraud or concealment of facts” in GST Notice u/s 74 not sufficient – SC
• For claiming deduction u/s 57(iii), test is of purpose and connection, not actual yield – ITAT
• Unless medical certificate are held forged & fictitious, appeal can’t be rejected on ground of delay
• One Star Export House status allowed based on export performance in two FYs
• Agricultural land is outside the deeming provision u/s 56(2)(x) – ITAT

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 >>