Ans. Section 11 of the FCRA, 2010 prescribes that no person, save as otherwise provided in the Act, shall accept foreign contribution unless such person obtains a certificate of registration or prior permission of the Central Government.
Can Trust accept foreign donations without FCRA?
Unless one has FCRA Prior Permission or FCRA Registration, one cannot accept donation (in any currency including INR, even from NRO or NRE acct)/ contribution in kind exceeding Rs 25,000 (excluding personal gifts)/ hospitality/ CSR support—from a foreign source.
How can an Indian company receive foreign investment?
Automatic Route: Foreign Investment is allowed under the automatic route without prior approval of the Government or the Reserve Bank of India, in all activities/ sectors as specified in the Regulation 16 of FEMA 20 (R).
Who can receive foreign contribution?
(1) Save as otherwise provided in this Act, no person having a definite cultural, economic, educational, religious or social programme shall accept foreign contribution unless such person obtains a certificate of registration from the Central Government: Provided that any association registered with the Central …
Why is FCRA needed?
The FCRA regulates foreign donations and ensures that such contributions do not adversely affect internal security. Registered associations can receive foreign contribution for social, educational, religious, economic and cultural purposes. Filing of annual returns, on the lines of Income Tax, is compulsory.
Which Indian companies who have invested abroad?
Tata Steel invested US$ 1 billion in a wholly owned subsidiary in Singapore. Interglobe Enterprises Pvt. Ltd. invested US$ 145.61 million in a joint venture based in the UK. Reliance Industrial Investments & Holdings Ltd. invested US$ 78.52 million in a wholly owned unit in the UK.
Can trust receive foreign donations?
Foreign Contribution (Regulation) Act 2010 and related Rules, administered by the Ministry of Home Affairs are monitoring and regulating NGOs getting money from abroad. The Trusts who intend to get money from abroad have to get approval from the Ministry of Home Affairs (MHA).
Who can receive FCRA?
A ‘person’, as defined in Section 2(1)(m) with the exclusion of those mentioned in Section 3 of FCRA, 2010, having a definite cultural, economic, educational, religious or social programme can receive foreign contribution after it obtains the prior permission of the Central Government, or gets itself registered with …
How can I get money from foreign countries?
There are three ways one can start a Trust/NGO/Charitable Institution, namely, (i)a Section 8 Company under the Companies Act, (ii)a Trust under the Indian Trust Act registering at a Sub-Registrar’s Office, (iii) a Society registering under the Co-operative Societies Act.
