02 April 2016
Dear Friends,
One of my friend is running educational trust. His another friend residing in USA wants to donate a huge amount for his trust. I want to know, What is FCRA ? And what is the procedure of getting FCRA ? Can my friend get donation without FCRA ? How long will it take to get FCRA Approval ?
02 April 2016
FCRA is Foreign Contribution Regulation Act. Trust having 3 years old can apply for registration the time limit normally is 90 days from the date of application for getting registration. If the friend residing in USA is a NRI and having Indian passport no FCRA registration required for receiving the donation from him.
02 April 2016
Types of FCRA Registration: -. There are 2 kinds of Foreign Contribution Regulation Act certificates;. 1. Prior consent certification which is possible after one year. 2. Long-term certificate for 5 years.
For Prior Approval, these criterias should be fulfilled:-. 1. Prior authorization certificate is provided those NGOs who have finished a minimum of one year in running. 2. The non government organization has to offer the list of foreign benefactors in addition to their addresses, classifications and cause for which they are donating. 3. The public welfare organization needs to point out the overall quantity of cash which is being received as a foreign donation.
For Foreign Contribution Regulation Act certification for 5 years, these criterias shall be satisfied. 1. The Non Government Company must be three years old. 2. Last 3 years annual report, audit report should be sent. 3. Copy of pan card, Bye laws of the ngo shall also be offered.
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