Why was the FCRA amended?
Table of Contents
- 1 Why was the FCRA amended?
- 2 What is a foreign contribution according to Foreign Contribution Regulation Act 2010?
- 3 What are the new FCRA Amendment 2020 provisions?
- 4 What are the key rules under FCRA Act?
- 5 What is foreign contribution and Regulation Act?
- 6 Who can receive foreign contribution?
- 7 What is Foreign Contribution (Regulation) Amendment Bill 2020?
- 8 What is Foreign Contribution (Regulation) Act 2010?
Why was the FCRA amended?
The FCRA, first enacted in 1976, was amended in 2010 when a slew of new measures were taken by the Ministry to regulate foreign donations. Any other bank account can be linked to the main account but all foreign donations should be received in the SBI account.
What is a foreign contribution according to Foreign Contribution Regulation Act 2010?
– A donation, delivery or transfer of any article, currency or foreign security referred to in this clause by any person who has received it from any foreign source, either directly or through one or more persons, shall also be deemed to be foreign contribution within the meaning of this clause.
Who regulates Foreign Contribution Regulation Act?
Language
| Act ID: | 201042 |
|---|---|
| Ministry: | Ministry of Home Affairs |
| Department: | Department of Internal Security |
| Enforcement Date: | 01-05-2011 |
| Notification: | 1st May, 2011, vide notification No. S.O. 909(E), dated 29th April, 2011, see Gazette of India, Extraordinary, Part II, sec. 3(ii). |
Who Cannot accept foreign contributions as per the Act?
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 …
What are the new FCRA Amendment 2020 provisions?
Prohibition to accept foreign contribution: Under the Act, certain persons are prohibited to accept any foreign contribution. These include: election candidates, editor or publisher of a newspaper, judges, government servants, members of any legislature, and political parties, among others.
What are the key rules under FCRA Act?
[(d) Any person making an application for registration under clause (a) of sub-rule (1) shall have an FCRA Account.]…
| Receipt of foreign contribution by way of gift from relative | Yes/ No |
|---|---|
| Receipt of foreign contribution by a candidate for election | Yes/ No |
When would a gift does not fall in definition of foreign contribution under foreign contribution Act?
– Any article gifted to a person for his personal use whose market value in India on the date of such gift does not exceed rupees twenty-five thousand shall not be a foreign contribution within the meaning of sub-clause (i) of clause (h) of sub-section (1) of section (2).”
What is Foreign Contribution Regulation Act 1976?
Foreign Contribution (Regulation) Act, 1976 (FCRA) was enacted in the year 1976 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.
What is foreign contribution and Regulation Act?
Foreign Contribution (Regulation) Act (FCRA), 2010 regulates the acceptance and utilization of foreign contribution or foreign hospitality by certain individuals, associations or companies and prohibits acceptance and utilization of foreign contribution or foreign hospitality for any activities detrimental to national …
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 …
What is Foreign Contribution Regulation Act Upsc?
In September 2020, the Foreign Contribution (Regulation) Amendment Act (FCRA), 2020 was passed by the Parliament. A new provision that makes it mandatory for all NGOs to receive foreign funds in a designated bank account at the State Bank of India’s New Delhi branch was inserted.
What do you mean by foreign contribution?
Any amount received from ‘foreign source’ in rupees or foreign currency is construed as ‘foreign contribution’ under law. Such transactions even in rupees term are considered foreign contribution.
What is Foreign Contribution (Regulation) Amendment Bill 2020?
The Foreign Contribution (Regulation) Amendment Bill, 2020 was introduced in Lok Sabha on September 20, 2020. The Bill amends the Foreign Contribution (Regulation) Act, 2010. The Act regulates the acceptance and utilisation of foreign contribution by individuals, associations and companies.
What is Foreign Contribution (Regulation) Act 2010?
The Bill amends the Foreign Contribution (Regulation) Act, 2010. The Act regulates the acceptance and utilisation of foreign contribution by individuals, associations and companies. Foreign contribution is the donation or transfer of any currency, security or article (of beyond a specified value) by a foreign source.
Can foreign contribution be used for administrative purposes?
Reduction in use of foreign contribution for administrative purposes: Under the Act, a person who receives foreign contribution must use it only for the purpose for which the contribution is received. Further, they must not use more than 50\% of the contribution for meeting administrative expenses. The Bill reduces this limit to 20\%.
What is the procedure for accepting foreign contributions under FCRA?
FCRA account: Under the Act, a registered person must accept foreign contribution only in a single branch of a scheduled bank specified by them. However, they may open more accounts in other banks for utilisation of the contribution.