FCRA Registration Services in India

 

On one side technology and open economy have unlocked a lot of opportunities, on the other side these two are working as an effective concept for the world in profit making. Today business houses and other affluent people are leveraging the power of economic liberty and technology, they are actively involved in activities that promote social, economic, cultural, and environmental growth and prosperity. Today due to technology, financial transactions across the globe are happening with ease, resultant the flow of foreign currency into and out of each country is completely natural and hassle-free.    

Since the volume at which these transactions are carried on is quite high, therefore it is almost impossible to monitor foreign currency regularly. Therefore, Foreign Contribution Regulation Act (FCRA) has been introduced. The objective of the Foreign Contribution Regulation Act (FCRA) is to regulate the acceptance and utilization of foreign contribution and prohibit the acceptance and utilization of foreign contribution for any activities susceptible to the national interest. There are two types of FCRA registration in India, normal registration and prior registration.                      

For Normal Registration:

·     Mandatory for applicants to register under the Societies Registration Act, 1860 or the Indian Trusts Act, 1882 or registered as Section 8 Company as per the Companies Act, 2013.

·         Mandatory for applicants to give a significant contribution to society.

·       Mandatory contribution of Rs. 10,00,000 in the last 3 years towards achieving its objectives.

·    Mandatory to submit financial statements of last three years that are duly audited by qualified Chartered Accountants.

·      If a newly established entity likes to get a foreign contribution, then approval for a specific purpose, specific activity, and from a specific source can be made to the Ministry of Home Affairs.  

For Prior Registration:

·     Mandatory for applicants to register under the Societies Registration Act, 1860 or the Indian Trusts Act, 1882 or registered as Section 8 Company as per the Companies Act, 2013.

·   Submit a specific commitment letter from the donor to the Ministry of Home Affairs that indicates the amount of given contribution and the purpose for which it is proposed to be given. 

If you are looking for FCRA registration in India, then corporate lawyers of law firms in India are popular for their dexterity, agility, and efficiency. They provide high-quality and flawless legal services at an affordable price.

Global Jurix

S-191 C, 3rd floor, Manak Complex

School Block, Shakarpur

New Delhi - 110092, India,

Website:www(dot)globaljurix(dot)com

Call at: +91-9810-062-387

Mail at: corporate@globaljurix.com