FCRA, 2010 has been enacted by the Parliament to consolidate the law to regulate the acceptance and utilization of foreign contribution or foreign hospitality by certain individuals or associations or companies and to prohibit acceptance and utilization of foreign contribution or foreign hospitality for any activities detrimental to national interest and matters connected therewith or incidental thereto.
i) of any article, not being an article given to a person* as a gift for his personal use, if the market value, in India, of such article, on the date of such gift is not more than such sum as may be specified from time to time by the Central Government by the rules made by it in this behalf.
ii) of any currency, whether Indian or foreign;
iii) of any security as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 and includes any foreign security as defined in clause (o) of Section 2 of the Foreign Exchange Management Act, 1999.
a) It must have a definite cultural, economic, educational, religious, or social program.
b) It must obtain the FCRA registration / prior permission from the Central Government.
c) It must not be prohibited under Section 3 of FCRA, 2010.
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 controlled or owned by the Government.
(d) member of any legislature.
(e) political party or office bearer thereof.
(f) organization of a political nature as may be specified under sub-section (1) of Section 5 by the Central Government.
(g) association or company engaged in the production or broadcast of audio news or audiovisual news or current affairs programs through any electronic mode.
(h) correspondent or columnist, cartoonist, editor, owner of the association or company referred to in point (g).
(i) Individuals or associations who have been prohibited from receiving foreign contributions.
The Government’s registration fee Rs.2000/- for registration and Rs.1000/- for prior permission.
Registration shall be valid for 5 years and thereafter application for renewal of registration may be made before 6 months from the expiry of their existing registration.
Rajesh M & Company is a Hyderabad-based Chartered Accountants’ firm providing Auditing, Accounting, Registration, Taxation and other Financial Services.
09963982500
3rd Floor, DOYEN SQUARE, 3-6-209, Hyderguda Main Rd, opp. HOTEL CENTRAL PARK, Avanti Nagar, Himayatnagar, Hyderabad, Telangana 500029
Copyright © 2020 Rajesh M & Company | All Rights Reserved by Rajesh M & Company
