FCRA 1976 PDF

49 OF [31st March, ] An Act to regulate the acceptance and utilisation of foreign contribution or foreign hospitality by certain persons or associations. It may be pertinent to point out here that it was the Congress, under the stewardship of Manmohan Singh, that replaced the original FCRA, Interestingly, the FCRA law deemed Indian companies as “foreign” if overseas residents held more than 50 per cent of the shareholding.

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The implication of the judgment, which asked the 196 to “take action as contemplated by law”, was that the two political parties could face action for violating the FCRA and FCRA acts.

Any person contravening the provisions of the Act shall be punishable with imprisonment for a term which may extend to five years or with fine or with both. FCRA, provides that the certificate granted shall be valid for a period of five years and the prior permission shall be valid for the 11976 purpose or specific amount of foreign contribution for which permission was granted. The applications for obtaining registration or prior permission shall have to be made electronically on-line, and shall have to be followed by forwarding the hard copy of the on-line application, duly signed, together with the required documents within thirty days of the submission of the on-line application, failing which the request of the person shall be deemed to have ceased.

Any information or intimation about political or speculative activities of a person shall be furnished to the Secretary to the Government of India in the Ministry of Home Affairs, New Delhi. The right to freedom of association is incorporated under the International Covenant on Civil and Political Rights, to which India is a party. A new provision has been introduced to the effect that any person, who knowingly gives false intimation and seeks prior permission or registration by means of fraud, false representation or concealment of material fact, shall, fcrx conviction by Court, would be liable to imprisonment for a term which may extend to six months or fine or with both.

political donations and the ghost of fcra

The list is revealing: Ensure that you furnish information exactly in the manner stated in the form. Tax Incentives For Non-Residents. One may recall that earlier this year, 11, NGOs lost their FCRA licences without the government having to either examine their records or suspend their registrations individually — their licences simply expired as the deadline for renewal passed.

It was to be an independent, statutory body along the lines of the Bar Council.

The fee for obtaining registration or prior permission would be Rs. The Central Bureau of Investigation or any other Government investigating agency that conducts any investigation under the Act 19976 furnish reports to the Central Government, on a quarterly basis, indicating 19776 status of each case that was entrusted to it, including information regarding fvra case number, date of registration, date of filing charge sheet, court before which it has been filed, progress of trial, date of judgment and the conclusion of each case.

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Sampath December 27, An association granted prior permission or registration under the Act must maintain a separate set of accounts and records exclusively for the foreign contribution received and utilised in the prescribed manner. December 27, With the Lok Sabha passing the law without any debate, the legislators lost the opportunity to ask why a long dead act was being brought back to life.

Chartered Accountants, before fcda the accounts of an association in form FC — 3, must ensure that they have been prepared in accordance with the provisions of the Foreign Contribution Regulation Act, and the Rules framed thereunder.

From Wikipedia, the free encyclopedia.

The registration is granted only to such association, which has proven track record of functioning in the chosen field of work during last three years, and after registration, such organization is free to receive foreign contribution from any foreign source rcra stated objectives.

Printable version Jan 1, 3: If the foreign contribution relates to articles or foreign securities, the intimation shall be submitted in the prescribed Forms.

The provisions of the Foreign Contribution Regulation Act, regulate the receipt of foreign contribution in the country. 11976 auctioned for Rs 1 crore, but his work is priceless.

Retro rules make a comeback

Interestingly, the FCRA law deemed Indian companies as “foreign” if overseas residents held more than 50 per cent of the shareholding in such firms. Contributions made by a citizen of India living in another country, from his personal savings, through the normal banking channels, is not treated as foreign contribution.

As a result, any donation received from such a company was also treated as a foreign contribution. Copyright indialiaison, All right Reserved. Modalities for submission of application for obtaining registration or prior permission to receive foreign contribution have been given in detail in the Rules and Forms for filing the applications.

The amount of foreign contribution lying unutilised in the exclusive foreign contribution bank account of a person whose certificate of registration has been cancelled shall vest with the banking authority concerned till the Central Government issues further directions in the matter.

Poll call in budget mix for farms Business. Under the repealed Act, there was no time limit regarding the validity of registration certificate granted to the associations etc.

What is a Foreign Source Foreign source means the government of any foreign country or territory or its agency; international agency; a foreign company; citizen of a foreign country. The Foreign Contribution Regulation Actwhich was enacted 42 years back, banned political parties from accepting donations from foreign firms, including Indian subsidiaries of foreign firms, unless prior permission had been taken for such donations.

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Officials say the amendment had to fcga brought to give relief to the country’s two largest political parties from a legal tangle they had managed to walk into. Foreign Contribution Regulation Act, FCRA was enacted in the year with the prime objective of regulating the acceptance and utilization of foreign contribution and foreign hospitality by persons and associations working in the important areas of national life.

An incomplete application will be fdra rejected. If yes, how then do we monitor the foreign funding of NGOs?

Foreign Contribution (Regulation) Act, 2010

It may be pertinent to point out here that it was the Congress, under the stewardship of Manmohan Singh, that replaced the original FCRA, 1796, with a more draconian version in Maintenance of Accounts An association granted prior permission or registration under the Act must maintain a separate set of accounts and records exclusively for the foreign contribution received and utilised in the prescribed manner.

While gcra provisions of the repealed FCRA, have generally been retained, the FCRA, is an improvement over the repealed Act as more stringent provisions have been made in order to prevent misutilisation of the foreign contribution received by the associations.

Two years ago, the Supreme Court struck down the appeals filed by the two political parties against the Delhi high court verdict. The terms are too vague and give the state excessive discretionary powers to apply the provision in an arbitrary manner.

Every such return in shall also be accompanied by a copy of a statement of account from the bank where the exclusive foreign contribution account is maintained by the person, duly certified by an officer of such bank. B Documents Fcraa to enclose copies of the following documents with your application — Certifed copy of registration certificate or Trust deed, as the case may be; Details of activities during the last three years; Copies of audited statement of accounts for the gcra three years Asset and Liabilities, Receipt and Payment, Income and Expenditure ; Commitment letter from foreign donor specifying the amount of foreign contribution only with prior permission 197 ; Copy of project for which foreign contribution was solicited is being offered only with prior permission application ; If functioning as editor, owner, printer or publisher of a publication registered under the Press and Registration of Books Act,a certificate from the Press Registrar that the publication is not a newspaper 19976 terms of section 1 1 of the said Act.

Salient Features of the Rules Guidelines for declaration of an organisation to be of a political nature, not being a political party have been prescribed. All grants and donations given in violation of FCRA will be condoned.