A Trust was registered under FCRA Act, and they were liable to file form FC 4 pertaining details of Foreign Donations received during the year. The due date for filing this form was 31.12.2021.
But FC 4 was not filed on time and if we file it now, the penalty of Rs. 38,03,286/- will be levied.
Is there any chance of getting this penalty waived off???
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TRUST FC 4
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| FC-4 is the Annual Return to be filed by associations/trusts/NGOs registered under the Foreign Contribution (Regulation) Act, 2010 (FCRA). Here is the complete guide: 1. Who Must File FC-4: Every association that has received foreign contribution during the financial year (whether under FCRA registration or prior permission) must file FC-4 annually. 2. Due Date: FC-4 must be filed by 31st December of the year following the financial year. Example: For FY 2021-22 (April 2021 to March 2022), FC-4 is due by 31st December 2022. 3. Where to File: Online on the FCRA portal — fcraonline.nic.in. Login with the FCRA registration number and password. 4. Contents of FC-4: - Details of foreign contribution received (source, amount, purpose) - Utilization of funds (project-wise, purpose-wise) - Balance held in FCRA-designated bank account (mandatory: SBI Main Branch, New Delhi for all FCRA accounts since September 2020) - Audited statements of accounts (income & expenditure, balance sheet) - Auditor's certificate 5. Audit Requirement: Accounts showing foreign contribution receipts must be audited by a CA and the audit report attached with FC-4. 6. Penalty for Non-Filing: Failure to file FC-4 can lead to suspension or cancellation of FCRA registration, and penalty under Section 35 of FCRA (fine + imprisonment). 7. Important: Even if no foreign contribution was received during the year, a nil return may still need to be filed if the association holds FCRA registration — verify the current FCRA portal requirements. |
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