FCRA stands for Foreign contribution regulation Act, and FCRA 1976 is a law of the Government of India which regulates the receipt of foreign contributions or aid from outside India to Indian territories. This is essential to ensure that such assistance does not affect political or any other situation in India.
Organizations seeking foreign contributions for definite cultural, social, economic, educational or religious programmes may obtain FCRA registration or receive foreign contribution through “prior permission” route. It is preferable for an FCRA applicant to be a Trust or Society or a Section 8 Company.
The FCRA rule aims at prohibiting acceptance and utilization of foreign contribution or foreign hospitality for any activities detrimental to the national interest. FCRA Rules 2022 allows Indians to receive up to Rs 10 lakh in a year from relatives staying abroad without informing the authorities.
As defined in Section 3(1) of FCRA, 2010, foreign Page 4 contribution cannot be accepted by any: (a) a candidate for election; (b) correspondent, columnist, cartoonist, editor, owner, printer or publisher of a registered newspaper; (c) Judge, government servant or employee of any Corporation or any other body …
What are the Benefits of FCRA Registration?
- Helps those organizations which work for the benefit and better of the public and are involved in the social work.
- If the organizations are registered under FCRA, it helps the organization lawfully in receiving the foreign contribution or government aids.
Broadly, the FCRA requires every person or NGO seeking to receive foreign donations to be (i) registered under the Act, (ii) to open a bank account for the receipt of the foreign funds in State Bank of India, Delhi, and (iii) to utilise those funds only for the purpose for which they have been received and as …
On their positive opinions, the FCRA Section of the Ministry issues the Certification of Registration to the candidate organization. It is necessary to receive foreign contribution just in one designated bank account.
Introduced in House (02/28/2022) This bill prohibits from inclusion in a consumer credit report information related to an eviction occurring during the COVID-19 national emergency or occurring in the 30 days after the termination of such emergency.
FCRA stands for Foreign Contribution Regulation Act. An Ngo is applicable to receive funds from abroad if it has an FCRA certificate. In order to get an FCRA certificate, the Ngo should be three years old.