Fcra Registration Service
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- Published date: September 9, 2019
- New Delhi, New Delhi, Delhi, India [ Ad Id - 78783 | Ad Views - 16 ]
The NGOs can not take foreign contribution straight. For this purpose they ought to be registered under the Foreign Contribution Regulation Act 1976, frequently referred to as the FCRA.
There can be two kinds of contribution from the foreign source, i.e. one time or anticipated more than once and even frequently. For any one time contribution the NGOs can get the amount by seeking prior approval of the FCRA Section of the Ministry of House Affairs, Government of India; whereas for regular and multiple contributions of the foreign source it is suggested to seek long-term registration from the said Ministry.
For this purpose an application is to be made by the NGO, which ought to be in working for at least three years after its due registration, to the Secretary to the Government of India, ministry of Home Affairs, 26 Mansingh Roadway, New Delhi Ã¢EUR" 110003 in the suggested Form FC-8 in addition to the desired enclosures (Certificate of Registration, Memorandum and Rules or the Trust Deed or any other evidence of registration, audited financial statement and task report of the least 3 years, and if possible letter of the prospective contributor.
The Ministry sends out the accepted application to neighborhood knowledge individuals for verification of the credentials and records of the company. On their positive opinions, the FCRA Section of the Ministry concerns the Certificate of Registration to the candidate company.
It is important to receive foreign contribution only in one designated bank account. For that reason, the applicant company need to open a fresh savings account with the objective to operate it for such funds and mention it in the application. The stated Ministry will directly inform the worried bank to keep watch on the use of the foreign contribution and report back to the Ministry in case of any inconsistency.
The companies signed up under the FCRA REGISTRATION have to maintain separate accounts incurred under the FC head and send a return in the recommended format to the Ministry along with the audited statement of accounts of the previous year by 31 July every year.
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