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Fcra Registration

Fcra Registration | fcra | Scoop.it

We deal in fcra registration of ngos.For that we require-

Last 3 years audited balance sheet of...

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Foreign contribution regulation Act 1976 or FCRA is a law of government of India which regulates receipt of foreign contributions or aid from outdoors India to India areas. This is important to guarantee that such help does not effect political or other situation in India. For genuine donation, the arrangement of law is not extremely tough to comply. The routine compliance is limited to filing of annual return every year. This law is implemented by the ministry of House affairs, Government of India. There is a different area in the ministry to ensure compliance to the Foreign Funding Registration.

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Fcra, foreign contribution regulation act, fcra registration

This page presents the complete details when an NGO applies for foreign funding registration.
fcra's insight:

NGOs meaning to receive funds and contributions from various other nations should initially signed up under the arrangements of Foreign Contribution Regulation Act, 1976. Either permanent registration or prior consent for a particular contribution can be sought from the FCRA Area of Ministry of Home Affairs. A signed up NGO having existence for a minimum of 3 years can be registered under this arrangement.

The NGOs can not take foreign contribution straight. For this function they need to be signed up under the Foreign Contribution Regulation Act 1976, generally referred to as the FCRA.

There can be two kinds of contribution from the foreign source, i.e. one time or anticipated more than as soon as and even frequently. For any one time contribution the NGOs can get the quantity by looking for prior approval of the FCRA Area of the Ministry of Home Affairs, Government of India; whereas for several and regular contributions of the foreign source it is recommended to seek permanent registration from the stated Ministry.

For this function an application is to be made by the NGO, which should be in working for at least three years after its due registration, to the Secretary to the Government of India, ministry of House Affairs, 26 Mansingh Roadway, New Delhi âEUR" 110003 in the prescribed Type FC-8 together with the wanted enclosures (Certification of Registration, Memorandum and Rules or the Count on Deed or any other evidence of registration, audited monetary statement and activity report of the least 3 years, and if possible letter of the prospective contributor.

The Ministry sends the accepted application to local intelligence people for verification of the credentials and records of the company. On their favorable remarks, the FCRA Section of the Ministry concerns the Certificate of Registration to the candidate company.

It is necessary to receive foreign contribution only in one designated bank account. The applicant organization need to open a fresh bank account with the objective to run it for such funds and mention it in the application. The said Ministry will directly notify the concerned bank to keep watch on the use of the foreign contribution and report back to the Ministry in case of any inconsistency.

The companies registered under the FCRA have to keep separate accounts incurred under the FC head and submit a return in the recommended format to the Ministry in addition to the audited statement of accounts of the previous year by 31 July every year.

The companies signed up under the FCRA, should inform to the Ministry about any change in name of the company, its Registered Workplace and purposes and objects within 30 days of the suitable modification. Prior permission will be required from the said the Ministry for any modification in the designated bank or replacement of even more than half of members of the governing body at the time of its registration under the FCRA.

The management should be cognizant of numerous provisions of the FCRA and need to strictly follow the same otherwise they could face a variety of extensive punishments under the Act.

Foreign Contribution Regulation Act (FCRA) was enacted in the year 1976 and recently, customized in the year 2010 with the prime objective of regulating the acceptance and usage of foreign contribution and foreign hospitality by persons and associations working in the crucial areas of nationwide interest. The focus of this Act is to make sure that the foreign contribution and foreign hospitality is not utilized to influence electoral politics, public servants, judges and other people working in to the essential locations of nationwide interest viz journalists, printers and publishers of papers, and so on

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