Fcra
This query is : Open
Noor Mohamed
(Querist)
14 March 2019
We are in opinion of opening a account for utilization of Foreign contribution, whether such new account also be in scheme of FC account or normal account can be opened?
Please give a suggestion ASAP.
Please give a suggestion ASAP.
K Srinivas, CMA CS
(Expert)
14 March 2019
FCRA requires that two separate accounts be maintained - one in which you can received foreign contribution and another for other purposes. There's no FC specific account , you may open a normal bank account and designate it as FCRA Account
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