Can NRI send some money in Section 25 Company ( a charitable foundation ) Account from his / her NRE or NRO account ? Any Tax or Declaration is Required to RBI ?.
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Money from nri to section 25 company
Replies (3)
Yes NRI can send money to sec 25 company and no declaration or approval is required from RBI.
thank you very much mr anthony for a prompt response.
Yes an NRI can send money to sec. 25 Company PROVIDED the Indian sec. 25 Company is registered under FCRA.
Make sure that Indian Company is registered under FCRA otherwise that shall constitute violation of law.
Anuj
femaquery @ gmail.com
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