IS THERE ANY SPECIAL PERMISSION THAT IS REQUIRED TO RECEIVE DONATIONS IN INR FROM NEPAL FOR A TRUST REGISTERED U/S 12A OF INCOME TAX ACT, 1961???
3 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 12 January 2021
If you received donation from foreign or in inr then you have to take prior permission from central government and if you registered under Foreign currency contribution act then you can receive such amount without permission upto the prescribed amount. You have to maintain all the provisions of FCRA Act
Kapadia Pravin
(17264 Points)
Replied 12 January 2021
Apart from tax provisions, Donee has to comply with RBI conditions.
Yes special permission is required.
Yes special permission is required.
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