Grant received from Foreign NGO For business Development

Save Share

This query is : Resolved

Quick Summary

This discussion clarifies the rules for Indian NBFCs receiving grants from foreign NGOs for business development. It highlights that only Indian NGOs registered under FCRA can receive foreign grants for charitable purposes. Receiving such grants for business development by an NBFC is generally not permitted under FEMA and FCRA regulations.

mulla hussain Basha

mulla hussain Basha (Querist)
Follow

07 March 2021 Dear Experts,

What ?? Compliance to be Done ( as per FEMA & FCRA) if an Indian NBFC Public Company Received Grant from Foreign NGO for Business Development

Thanks in Advance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

07 March 2021 Only Indian NGOs registered under FRCA eligible to receive grant for their charitable objectives.
Grants not allowed from foreign NGO for business development.

mulla hussain Basha

mulla hussain Basha (Querist)
Follow

07 March 2021 Thanks a lot sir ! for your quick reply, please share relevant provisions for that
Thanks in advance !

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now