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fcra-registration.com || FAQ on FCRA 2010 || FCRA Registration || FCRA Return | FCRA Online || FCRA Offence || FCRA Penalty

fcra-registration.com || FAQ on FCRA 2010 || FCRA Registration || FCRA Return | FCRA Online || FCRA Offence || FCRA Penalty

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fcra-registration.com || FCRA Registration Consultant Ozg FCRA Consulting, New Delhi ---------------- Email: fcra.consultant@ozg.co.in ------------ Website: http://fcra.ozg.in ------------- Join on www.facebook.com/FCRAregistration
---------- FAQ on FCRA 2010 || FCRA Online Registration || FCRA Return Status | FCRA Online || FCRA Offence || FCRA Penalty
fcra-registration.com || FCRA Registration Consultant Ozg FCRA Consulting, New Delhi ---------------- Email: fcra.consultant@ozg.co.in ------------ Website: http://fcra.ozg.in ------------- Join on www.facebook.com/FCRAregistration
---------- FAQ on FCRA 2010 || FCRA Online Registration || FCRA Return Status | FCRA Online || FCRA Offence || FCRA Penalty

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Published by: fcra-registration.com on Aug 12, 2011
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08/12/2011

 
Ozg FCRA Consulting
Email:
FAQ on FCRA 2010
Foreign Contribution Regulation Rule– 2011
Q. 1 What is foreign contribution?
Ans. Foreign contribution has been defined in Section 2(1)(h) of FCRA, 2010. However, foreign contribution excludesearnings from foreign client(s) by an association in lieu of goods sold or services rendered by it as this is atransaction of commercial nature.
Q. 2 Section 2(c)(i) of repealed FCRA, 1976 interalia defined foreign contribution as the donation,delivery or transfer made by any foreign source of any article, not given to a person as a gift forpersonal use, if the market value, in India, of sucharticle exceeds one thousand rupees. What limithas been prescribed in FCRA, 2000 in respect of such article?
Ozg FCRA Consulting
Email:
 
Ozg FCRA Consulting
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Ans. Till any limit is fixed in the Rules, foreign contributionhas to be understood without any limit.
Q. 3 What is a foreign source?
Ans. Foreign source, as defined in Section 2(1) (j) of FCRA,2010 includes:-(i) the Government of any foreign country or territory andany agency of such Government;(ii) any international agency, not being the United Nationsor anyof its specialized agencies, the World Bank, InternationalMonetary Fund or such other agency as the CentralGovernment may, by notification, specify in this behalf;(iii) a foreign company;(iv) a corporation, not being a foreign company,incorporated in a foreign country or territory;(v) a multi-national corporation referred to in sub-clause(iv) of clause (g);
Ozg FCRA Consulting
Email:
 
Ozg FCRA Consulting
Email:
(vi) a company within the meaning of the Companies Act,1956, and more than one-half of the nominal value of itsshare capital is held, either singly or in the aggregate, byone or more of the following, namely:-(A) the Government of a foreign country or territory; (B)the citizens of a foreign country or territory;(C) corporations incorporated in a foreign country orterritory;(D) trusts, societies or other associations of individuals(whether incorporated or not), formed or registered in aforeign country or territory;(E) Foreign company;(vii) a trade union in any foreign country or territory,whether or not registered in such foreign country orterritory;(viii) a foreign trust or a foreign foundation, by whatevername called, or such trust or foundation mainly financedby a foreign or territory;
Ozg FCRA Consulting
Email:

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