The fcra,2010

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  • © Altacit Global 2009 Email: info@altacit.com
  • The fcra,2010

    1. 1. CHENNAI3rd Floor, ‘Creative Enclave’,148-150, Luz Church Road, Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 BANGALORE Suite 920, Level 9, A BRIEF STUDY OF FOREIGN Raheja Towers, 26-27, M G Road, CONTRIBUTION Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 (REGULATION)ACT,2010 COIMBATORE #1533, Trichy Road,Coimbatore, India – 641018. - by N.PRASSANVADANA, ALTACIT GLOBAL Tel: +91 - 422 – 6552921 EMAIL info@altacit.com WEBSITE www.altacit.com
    2. 2. SHORT CONTENT OF THE ACT CHENNAI3rd Floor, ‘Creative Enclave’,148-150, Luz Church Road, • An Act to consolidate the law to regulate the acceptance of Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 foreign contribution/hospitality by certain individuals, BANGALORE associations or companies and thus to protect national Suite 920, Level 9, Raheja Towers, interest. This Act is to be read together with Foreign 26-27, M G Road, Bangalore - 560 001. Contribution Regulation Rules, 2011. Tel: +91 - 80 - 6546 2400 COIMBATORE #1533, Trichy Road,Coimbatore, India – 641018. Tel: +91 - 422 – 6552921 EMAIL info@altacit.com WEBSITE www.altacit.com
    3. 3. APPLICABILITY: Sec.1 CHENNAI3rd Floor, ‘Creative Enclave’,148-150, Luz Church Road, Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 BANGALORE • Extends to whole of India; Suite 920, Level 9, Raheja Towers, 26-27, M G Road, • Citizens of India outside India; Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 • Associate branches or subsidiaries outside India of COIMBATORE #1533, Trichy Road, Companies registered/incorporated in India.Coimbatore, India – 641018. Tel: +91 - 422 – 6552921 • Applicable to Individuals, Associations, Companies, Non-Profit, Non-Governmental Organizations who receive Foreign Contribution/Hospitality . EMAIL info@altacit.com WEBSITE www.altacit.com
    4. 4. WHAT IS FOREIGN CONTRIBTION/HOSPITALITY: Sec.2 CHENNAI3rd Floor, ‘Creative Enclave’, • Foreign contribution means donation/delivery/transfer made by148-150, Luz Church Road, Mylapore, any foreign source, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 – Of any article not being an article of gift to a person for his BANGALORE Suite 920, Level 9, personal use, the value of which is within the value specified Raheja Towers, 26-27, M G Road, by Central Govt. from time to time. Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 – Of any currency Foreign or Indian, or any security/foreign COIMBATORE #1533, Trichy Road, security as defined by FEMA or any governing law in force.Coimbatore, India – 641018. Tel: +91 - 422 – 6552921 – Foreign hospitality means offer made in cash or kind for providing a person with cost of travel, boarding, lodging, including but not limited to medical treatment in a Foreign country. EMAIL info@altacit.com WEBSITE www.altacit.com
    5. 5. WHAT CONSTITUTES FOREIGN SOURCE: Sec.2 CHENNAI3rd Floor, ‘Creative Enclave’,148-150, Luz Church Road, • Govt. of any Foreign country/territory and it’s Agents. Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 • International Agency not being UNO or it’s specialized BANGALORE agencies. Suite 920, Level 9, Raheja Towers, • Foreign Company, MNC, a corporation not being a foreign 26-27, M G Road, Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 company incorporated in a foreign country or territory; COIMBATORE • Company within the meaning of Companies Act 1956(sec.1 of #1533, Trichy Road,Coimbatore, India – 641018. 1956) if more than half of its share capital is held by a Foreign Tel: +91 - 422 – 6552921 country, company, corporation, trusts, society , association or foreign citizen. • Any corporation, trusts, association, society, trade union, club, organization or individual incorporated in a Foreign country. EMAIL info@altacit.com WEBSITE www.altacit.com
    6. 6. WHO CANNOT RECEIVE FOREIGN CONTRIBUTION: Sec.3 CHENNAI3rd Floor, ‘Creative Enclave’,148-150, Luz Church Road, • Election candidates, office bearers of political parties, any Mylapore, Chennai - 600 004. person/organizations on behalf of political parties. Tel: +91 - 44 - 2498 4821 BANGALORE • Members of Press including Owners, Publishers ,Printers of Suite 920, Level 9, Raheja Towers, regd. Newspapers, and nd journalists. 26-27, M G Road, Bangalore - 560 001. • Judges, Government servants, Legislative Members. Tel: +91 - 80 - 6546 2400 COIMBATORE • Organisation of a political nature as specified under #1533, Trichy Road,Coimbatore, India – 641018. Sec.5(1). Tel: +91 - 422 – 6552921 • Association or company engaged in broadcast/production of audio, visual news by any electronic mode or form as defined under Sec.2(1)(r) of Information Technology Act, 2000, EMAIL info@altacit.com WEBSITE www.altacit.com
    7. 7. WHICH OF THE TRANSACTIONS FALL OUTSIDE THE PURVIEW OF FCRA: SEC:4 CHENNAI3rd Floor, ‘Creative Enclave’,148-150, Luz Church Road, • Government transactions, direct or through Agents. Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 • Scholarships to Indian students, Tuition fees from foreign BANGALORE students. Suite 920, Level 9, Raheja Towers, 26-27, M G Road, • Salary, wages, remuneration due to employees from an Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 organization. COIMBATORE #1533, Trichy Road, • Amounts received from relatives.Coimbatore, India – 641018. Tel: +91 - 422 – 6552921 • Payments for goods received, services given in the ordinary course of business or under FEMA. • Gift or presentation made to member of Indian Delegation made in accordance with rules made by Central Govt. EMAIL info@altacit.com WEBSITE www.altacit.com
    8. 8. RESTRICTIONS AND EXCEPTIONS UNDER THE ACT: Sec.6,7, ,9. CHENNAI3rd Floor, ‘Creative Enclave’,148-150, Luz Church Road, • Prohibition to transfer Foreign Contribution to other person. Mylapore, Chennai - 600 004. • Receipt of FC from relatives in excess of Rs.1 Lakh must be informed to Tel: +91 - 44 - 2498 4821 Central Govt. BANGALORE Suite 920, Level 9, • Exemption in certain cases of emergency medical treatments. Raheja Towers, 26-27, M G Road, • Prohibitions by Central Government in the national interest. Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 • Restrictions on Government servants, Judges, members of legislature COIMBATORE etc. from accepting Foreign Hospitality except in cases of sudden illness. #1533, Trichy Road,Coimbatore, India – 641018. • Prior permission of central government needed by organizations of a Tel: +91 - 422 – 6552921 political nature. • No person who is registered or granted prior permission under this Act and receives any foreign contribution can transfer such foreign contribution to another person unless that person is also registerred, granted prior permission under this Act. EMAIL info@altacit.com WEBSITE www.altacit.com
    9. 9. RESTRICTION ON UTILIZATION OF FOREIGN CONTRIBUTION: Sec.8 CHENNAI3rd Floor, ‘Creative Enclave’,148-150, Luz Church Road, • Foreign Contribution : Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 – shall be utilized only for the purpose for which its been BANGALORE received. Suite 920, Level 9, Raheja Towers, – FC shall not be used for buying/selling shares, property, 26-27, M G Road, Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 chits, loans. COIMBATORE – Shall not be used for administrative expenses, an amt. #1533, Trichy Road,Coimbatore, India – 641018. exceeding 50% Tel: +91 - 422 – 6552921 – Shall maintain a separate register of investments for audit. What is not covered by ‘administrative expenses’: – Salaries of training personnel. – Expenses on collection of field data. EMAIL – Salaries of doctors of Hospital, teachers of school, if the info@altacit.com same is a welfare organization. WEBSITE www.altacit.com
    10. 10. REGISTRATION UNDER FCRA,2011: Sec.11 to 14 ,AND OTHER PROCEDURES CHENNAI3rd Floor, ‘Creative Enclave’,148-150, Luz Church Road, • Conditions for: Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 – registration sec.11. BANGALORE Suite 920, Level 9, – Eligibility for registration. Raheja Towers, 26-27, M G Road, – Procedure of registration. Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 – Documents to be filed. COIMBATORE #1533, Trichy Road, – Grant of registration.Coimbatore, India – 641018. Tel: +91 - 422 – 6552921 – Suspension of registration. – Cancellation of registration. Receipt and Accounts of foreign Contribution: Sec. 17 to 24 EMAIL info@altacit.com WEBSITE www.altacit.com
    11. 11. PENALTIES FOR VIOLATION OF FCRA,2011: Sec:33 to Sec.35 CHENNAI3rd Floor, ‘Creative Enclave’,148-150, Luz Church Road, • Making false statement, declaration or maintaining false accounts: Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 – Any person who knowingly under Sec.9(c), Sec.18 gives false intimation, or; BANGALORE Suite 920, Level 9, – Seeks prior permission or registration by means of fraud, false Raheja Towers, 26-27, M G Road, representation or concealment of material fact, Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 – Shall be liable on conviction to imprisonment up to 6 months or with COIMBATORE fine or both. #1533, Trichy Road,Coimbatore, India – 641018. • Sec. 34-Penalty for FC obtained in contravention of prohibition under sec. Tel: +91 - 422 – 6552921 10. • Sec.35-Whoever accepts any person, political party or organization in accepting , any foreign contribution or currency or security from a foreign source in contravention of any provision off this Act shall be punished with imprisonment of a term which may extend up to 5 years and fine or both. • Fines under Sec.36. EMAIL • Sec.37-Punishment for contravention of any provision of the act. info@altacit.com • Seizure of any FC received in contravention of the act,(sec.25). WEBSITE www.altacit.com • Other guidelines to describe political parties/groups under FCRA,2010.
    12. 12. CHENNAI3rd Floor, ‘Creative Enclave’,148-150, Luz Church Road, Mylapore, Chennai - 600 004. Tel: +91 - 44 - 2498 4821 BANGALORE Suite 920, Level 9, Raheja Towers, 26-27, M G Road, Bangalore - 560 001. Tel: +91 - 80 - 6546 2400 COIMBATORE #1533, Trichy Road, THANK YOU.Coimbatore, India – 641018. Tel: +91 - 422 – 6552921 EMAIL info@altacit.com WEBSITE www.altacit.com

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