Who can receive foreign contribution?
(1) Every person who has been granted a certificate or given prior permission under section 12 shall receive foreign contribution in a single account only through such one of the branches of a bank as he may specify in his application for grant of certificate: Provided that such person may open one or more accounts in …
Can an individual receive foreign contribution as per FCRA?
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.
Who can not receive foreign contribution?
As defined in Section 3(1) of FCRA, 2010, foreign Page 4 contribution cannot be accepted by any: (a) a candidate for election; (b) correspondent, columnist, cartoonist, editor, owner, printer or publisher of a registered newspaper; (c) Judge, government servant or employee of any Corporation or any other body …
Can I receive foreign funds?
In 2019, MHA had amended FCRA rules where it said that even persons prohibited to receive foreign funds such as journalists, politicians, members of the judiciary “are allowed to accept foreign contribution from their relatives” if the amount does not exceed ₹1 lakh.
Who can open FCRA account?
“For opening of designated FCRA account, you need not visit NDMB. If you are an existing SBI customer, you may submit the enclosed account opening form along with required KYC document to your home branch which will be forwarded by your branch to NDMB,” the bank had stated in its letter to the NGOs.
How do I get FCRA funds?
For getting Proper FCRA Registration, the applicant must be registered and operating as an NGO for a minimum period of 5 years. The Non-Profit Organization must have spent minimum 10 Lakh rupees in the last 3 years for furtherance of its main objects.
Can Section 8 companies receive contributions from overseas or non residents?
There are special requirements to be complied with under the Foreign Contribution and Regulation Act, 2010 before a Section 8 Company can receive any contributions or donations from overseas/outside India from non-residents. The provisions of the said Act are in addition to the provisions under the Companies Act.
Can political parties receive foreign funding Upsc?
As per the FCRA, members of legislatures, political parties, government officials, judges and media persons are prohibited from receiving any foreign contribution.
WHO issues FCRA certificate?
On their positive opinions, the FCRA Section of the Ministry issues the Certification of Registration to the candidate organization. It is necessary to receive foreign contribution just in one designated bank account.