Nre cheque acceptene
This query is : Resolved
ahammed hussain
(Querist)
30 September 2013
SIr,
Can anybody replay me,..... a charitable trust doesn't have FCAR can accept NRE cheques or not?
Ahammed Hussain
Calicut
Nikhil Kaushik
(Expert)
01 October 2013
No, without FCRA registration, you cannot receive NRE cheques.
Please refer to the below excerpts.
However, in case of contribution given by the non-resident foreign citizens of Indian origin through their NRE and FCNR accounts maintained in India, the provisions of FCRA will be attracted and these contributions are to be treated as “Foreign Source”.Consequently, recipient associations/organisations would require registration under FCRA or prior permission of the central Government before accepting contributions from a 'foreign source'.
https://rbi.org.in/scripts/NotificationUser.aspx?Id=5131&Mode=0
Please refer to the below excerpts.
However, in case of contribution given by the non-resident foreign citizens of Indian origin through their NRE and FCNR accounts maintained in India, the provisions of FCRA will be attracted and these contributions are to be treated as “Foreign Source”.Consequently, recipient associations/organisations would require registration under FCRA or prior permission of the central Government before accepting contributions from a 'foreign source'.
https://rbi.org.in/scripts/NotificationUser.aspx?Id=5131&Mode=0
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