Validation of Foreign Contribution bank accounts. Associations are required to validate FC designated accounts with utilization accounts within 15 days
F. No. II/21022/58(0119)/2015/FC(MU)
Government of India
Ministry of Home Affairs
Foreigners Division (FCRA Wing)
*****
Ground Floor, NDCC-II Building,
Jai Singh Road, New Delhi-11 0001
Dated the 07 Junc, 2017
CIRCULAR
All the associations which have been granted registration/prior permission under Section 12 of FCRA , 20 I 0 shall receive foreign contribution in a single foreign contribution designated bank account. Further, as per Foreign Contribution (Regulation) Rules, 2011 [FCRR, 2011] all the banks shall report to the Central Government within 48 hours of such receipt/utilization of foreign contribution by such organizations.
2. It is, however, seen that a number of associations have not validated their foreign conLribution designated accounts causing problems for the banks to comply with the provisions or 2010/FCRR, 2011. A list of such organizations is attached.
3. These associations are required to validate their foreign contribution designated accounts and also the utilization accounts within 15 days and send the details, including name of the bank, branch code, account number, IFSC , online in form FC-6 which is available on fcraonline. nic. in.
(Mukesh Mittal)
Joint Secretary to the Government of India
Tel.: 011-23438034
Fax : 011-23438033
ITAT allowed increased exemption of Rs. 25 lakhs u/s 10(10A) to non-government employees in view of CBDT retrospective notification. In…
PCIT has revisionary jurisdiction u/s 263 over the cases irrespective of the fact that the relevant assessment was completed physical…
Appellate court interfering with Motor Accidents Claims Tribunal findings on assessment of disability and loss of earning capacity must undertake…
When period of delay is not very huge and involve huge monetary liability on the assessee, a lenient approach should…
Ratification by EoGM of the company can not give legality of the diversion of the fund raised by preferential issue.…
CBIC prescribes procedures for return of export cargo from international waters due to closure of the Strait of Hormuz where…