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FCRA
The Foreign Contribution (Regulation) Act, 2010 (FCRA) is a regulatory framework in India that governs the acceptance and utilization of foreign contributions and donations by individuals, associations, and companies. FCRA registration is required for entities intending to receive foreign contributions for specific purposes. Here are key points related to FCRA registration in India
Documents required
- Registration Certificate of Association(self certified by chief functionary)
- Memorandum of Association/Trust Deed(self certified by chief functionary).
- Activity Report for the Last 3 Years.
- Audited Statement of accounts for the last three years.
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The Foreign Contribution (Regulation) Act, or FCRA, is an Indian law that regulates the acceptance and utilization of foreign contributions or donations by individuals, associations, and companies in India. The primary objective of the FCRA is to ensure that foreign contributions and foreign hospitality do not influence the political and economic stability of India, and to prevent any potential use of such contributions for activities detrimental to the national interest.
Entities Eligible for FCRA Registration:
- NGOs and Associations operating for definite cultural, economic, educational, religious, or social objectives
- Companies engaged in activities of social, educational, or cultural nature:
- Trusts and Societies
It’s crucial for entities engaging in activities covered by FCRA to adhere to the registration requirements and comply with the regulations to avoid legal consequences. The FCRA framework is subject to periodic amendments, and entities should stay informed about the latest developments in this area.
FAQs
Who needs to register under FCRA?
Individuals, associations, and companies that intend to receive foreign contributions must either register under FCRA or obtain prior permission from the Ministry of Home Affairs.
What are the eligible activities for foreign contributions?
Foreign contributions can be used for social, educational, religious, economic, and cultural activities as specified in the act. However, funds cannot be used for activities detrimental to national interest.
Can political parties receive foreign contributions under FCRA?
No, political parties are not eligible to receive foreign contributions under FCRA.
What is the duration of FCRA registration?
FCRA registration is generally granted for a period of five years. Organizations must renew their registration before the expiry of the registration period.
What are the reporting requirements under FCRA?
Organizations receiving foreign contributions must submit annual returns detailing the foreign contributions received and their utilization. This information must be submitted to the government.
Is there a designated bank account requirement under FCRA?
Yes, organizations registered under FCRA must maintain a designated bank account exclusively for the purpose of receiving foreign contributions.
What are the penalties for non-compliance with FCRA?
Non-compliance with FCRA can result in penalties, including the cancellation of registration, forfeiture of assets derived from foreign contributions, and imprisonment.
Can foreign contributions be used for administrative expenses?
Yes, foreign contributions can be used for administrative expenses, but there are limits defined by the FCRA.
Are there any recent amendments to FCRA?
FCRA has undergone amendments over the years. Organizations should stay updated on the latest legal provisions and amendments to ensure compliance.
Can FCRA registration be cancelled?
Yes, the government has the authority to cancel FCRA registration if an organization violates the provisions of the act.
Is there a provision for prior permission to receive foreign contributions?
Yes, organizations that do not wish to seek registration can apply for prior permission from the Ministry of Home Affairs to receive foreign contributions for a specific project.
Can foreign contributions be used for religious purposes?
Yes, foreign contributions can be used for religious purposes, provided they comply with the provisions of FCRA.