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FCRA Registration with Corpbiz

FCRA Registration is an essential compliance requirement for enterprises involved in social upliftment and is required of groups seeking foreign donations. The government authority issues the registration certificate, which must be obtained to apply for or accept funds from overseas charitable organizations, social institutions, and registered trusts.

At Corpbiz, our speciality is making the complicated process of registration under FCRA easier to understand so that society and charitable organizations may easily obtain foreign funds.

At Corpbiz, we offer FCRA registration services that include full support during the application process, assisting organisations in meeting all applicable legal criteria and paperwork. We provide customized solutions, guaranteeing compliance with all legal requirements and accelerating the approval procedure. Furthermore, our package guarantees professional advice to comprehend particular needs, application submission, authorities' follow-up, and counselling during the approval procedure

Challenges faced with FCRA Registration

Registration under FCRA has to follow complex compliance procedures and strict restrictions provide several obstacles for groups looking to accept contributions from overseas. Among the main difficulties encountered are

Robust Regulatory Framework

Organizations who are not aware of the nuances of the FCRA process may find it intimidating to comply with the laws and standards, which are comprised of a complicated collection of rules. Comprehending these restrictions may frequently be rather difficult.

Tight Requirements for Necessary Paperation

The registration procedure necessitates the submission of exacting paper works, which includes comprehensive financial records, audited reports, project particulars, and more. It might take a lot of effort and time to compile and deliver these papers following FCRA guidelines.

Process Delays

The FCRA registration procedure comprises many agencies, which might cause delays because of procedural snags or the requirement for further explanations.

Compliance Risks

Failure to abide by or make mistakes regarding FCRA standards may result in application rejections or even fines, which may have a negative effect on an organization's capacity to accept donations from overseas.

Corpbiz uses its specialist services to handle these challenges

Expert Advice

Corpbiz provides customers with expert advice from specialists knowledgeable in FCRA rules, guaranteeing a thorough comprehension of the prerequisites and guiding them through the intricate regulatory environment.

Assistance with Necessary Paperation

The consulting offers assistance with gathering and arranging the required paper works, guaranteeing its accuracy, completeness, and compliance with FCRA regulations.

Effective procedure Management

To reduce delays and hasten the FCRA registration procedure, Corpbiz optimizes the application process by efficiently handling the procedural requirements.

Benefits of FCRA Registration in India

Reputation

Generally, society and non-governmental organizations carry this type of registration. Organizations that depend on foreign funding must register under the FCRA's regulations. A recognized entity in the community would be one that was registered under this system.

Compliance

Organizations that have registered following the FCRA's requirements will be in compliance with all applicable laws.

Government Support

The regulatory agencies require registration under FCRA, which is a government registration. Hence, by using this registration form, an applicant may take advantage of complete government support.

Foreign Investment

Constant support and investment from overseas firms is another advantage of FCRA registration. The assistance might come from the overseas head office that is registered or from another foreign organization.

Accept Foreign Donations

Without any limits from the government, an association can accept foreign donations for specific cultural, economic, educational, religious, or social initiatives by registering with the FCRA.

Transparency

It also aims to encourage more openness in the way non-governmental organizations (NGOs) and other trusts supporting social causes raise and use foreign donations.

Aids Social workers

The FCRA registration facilitates accurate analysis and helps social workers determine the source of funds received by their clients. It grants groups that promote the well-being of society autonomy.

Prevents Misuse of Funds

The government may stop the misappropriation of foreign donations by registering FCRAs. This aids in their ability to determine the actual nature of the gift that the organization has received and how it is being used to fulfil its stated purpose.

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10 Reasons to Choose Corpbiz

  • Successfully incorporated 500+ registered societies in India.
  • Solid Network of 50,000+ Lawyers/Attorneys/CAs/CPAs.
  • 800+ FCRA registration Experts with Decades of Experience.
  • Partner Base of 40,000+ Auditing and Law Firms Globally.
  • Experience of Resolving Tax Disputes worth over 2500 Crores.
  • Worked with over 30,000+ Entrepreneurs across the Globe.
  • AI-powered Service Delivery Platform ensuring Timely Support.
  • Dedicated Foreign Investment Desk with 200+ Client Representatives.
  • Maintained Consistency with 99.7% Client Recommendations.
  • 100+ Queries for FCRA registration in India Daily.

Our Services for FCRA Registration

For companies wishing to accept donations from overseas, Corpbiz provides a variety of specialist services aimed at simplifying and accelerating FCRA (Foreign Contribution Regulation Act) registration. Among the many services we offer in-depth are

Advice and Guidance

Our experts offer thorough advice and assist businesses with every step of the FCRA registration procedure. Their insights into the complex legal requirements, compliance standards, and required paper works ensure that the procedures involved are well understood.

Help with Necessary Paperation

We work with groups to gather, arrange, and prepare the necessary paperwork needed to register with the FCRA. Compiling financial accounts, project information, audited reports, and other required paper works in accordance with FCRA regulations are all included in this.

Application Preparation and Submission

Corpbiz ensures correctness and thoroughness in the preparation and submission of FCRA applications. We expedite the application procedure, sending all required paperwork and papers to the relevant authorities on our clients' behalf.

Follow-up and Coordination

Throughout the registration procedure, our staff keeps in touch and coordinates with relevant authorities. We provide a seamless and quick procedure by quickly and effectively replying to any questions or requests for more information.

Compliance Review and Assurance

To make sure that all FCRA requirements are fulfilled, Corpbiz conducts thorough compliance assessments. To reduce the possibility of rejections or delays, we confirm that the given paperwork complies with the legal requirements.

Post-Registration Support

After an organization successfully registers, we help them by providing advice on how to stay in compliance with FCRA laws. To guarantee a hassle-free experience, our professionals help with the submission of required reports and the completion of ongoing compliance duties.

Customized Solutions

Corpbiz customizes its offerings to meet the particular requirements of every business, offering counsel and solutions that are suited to their particular goals and set of circumstances.

Corpbiz wants to make the registration procedure easier for groups by utilizing our experience and industry knowledge. This will allow them to handle the intricacies with ease and get foreign donations for their philanthropic, social, or benevolent purposes.

Benefits of our services

For organizations looking to accept donations from overseas, Corpbiz's FCRA registration services provide a variety of advantages

Knowledge and Counseling

Corpbiz has a staff of seasoned experts who are knowledgeable about FCRA laws. Our experience guarantees precise direction and support during the registration procedure, decreasing mistakes and raising the possibility of a successful registration.

Efficiency and Time-Saving

Corpbiz expedites the registration process, saving firms significant time, by having a deep grasp of the FCRA regulations. Our timely processing of paperwork, application submission, and follow-ups reduces wait times and speeds up the procedure as a whole.

Entrusting Corpbiz with FCRA registration

This allows firms to get complete compliance assessments and support. Our thorough evaluation reduces the possibility of rejection or non-compliance concerns by ensuring that all papers and submissions correctly follow FCRA requirements.

Post-Registration Support

Corpbiz continues to assist firms by providing information on post-registration compliance needs, even after acquiring registration under FCRA. This ongoing support ensures that organizations remain compliant and fulfil their reporting requirements effectively.

Decreased Administrative Burden

Organizations may find it too much work to handle FCRA registration. By handling every aspect of the procedure, Corpbiz relieves this load and frees up enterprises to concentrate on their primary goals and objectives rather than worrying about complicated paperwork.

Enhanced reputation and Trust

An organization's reputation is bolstered by a successful registration under FCRA with Corpbiz, which inspires trust in contributors, partners, and stakeholders. This reputation can have a favourable effect on collaborations and fundraising initiatives, supporting the expansion and influence of the organization.

Peace of Mind

Organizations who use Corpbiz's services may relax knowing that experts are handling their registration under FCRA. With this certainty, they may successfully traverse the regulatory landscape, creating a more favourable atmosphere for their charitable initiatives.

Our Approach for FCRA Registration

  • Keeping Abreast Of Regulatory Changes
  • Transparent Pricing Structure
  • Customized Packages
  • Competitive Rates

What does data say about us?

Corpbiz is a noteworthy company with a remarkable customer approval score of 99.9% and an equally impressive client satisfaction record. With more than a lakh satisfied clients, Corpbiz is a young, growing family. Corpbiz has established a reputation as a very trustworthy international business partner for all types of businesses. The professions at Corpbiz are varied and include

  • More than 500 FCRA registrations provided
  • More than 250 Chartered Accountants, Company Secretaries, and Lawyers
  • More than 100 Company registration experts

Corpbiz promises outstanding proficiency in every domain. Furthermore, Corpbiz offers services related to company registration, compliance, etc. Experts at Corpbiz manage matters related to company registration, paper works, and compliance. More than 50,000 customers have given Corpbiz a 4.9 rating, which is a testament to the expert services we provide. Corpbiz continues to be a resource for all businesses seeking expert advice and support.

Start Your FCRA Registration with Corpbiz

All charitable trusts, societies, and Section 8 companies that receive donations from overseas sources or foreign contributions are required to apply for registration under FCRA. The Foreign Contribution Regulation Act, 2010 governs FCRA registration. The Foreign Contribution Regulation Act is referred to as FCRA. The Foreign Contribution Regulation Act, 2010 was passed with the intention of

  • Maintain equilibrium in how well-established individual associations or businesses accept and make use of foreign contributions or hospitality.
  • Prohibition against accepting and using hospitality or contributions from abroad for any purposes that are detrimental to the interests of the country, as well as for things associated with or incidental to such purposes.

The government authority issues the registration certificate, which must be obtained to apply for or accept funds from overseas charitable organizations, social institutions, and registered trusts.

Necessary Papers required for FCRA Registration

Below mentioned necessary papers are required for Registration under FCRA

  • Self-attested copy of incorporation certificate, trust deed, or any other certificate held by such entity
  • Particulars of Non-Profit Organisations along with the PAN
  • Copy of MOA and AOA of institutions
  • Impression of the chief judiciary (It shall be in JPG From)
  • A detailed report on activities of the preceding 3 years
  • Audited copy of financial statement, P&L account, Income-Expenditure details, and cash flow statement of the preceding 3 years
  • Certified true copies of the resolution passed by a governing body authorized by a Non-profit organization
  • Certificate obtained under section 12 AB of the Income Tax Act

Eligibility Criteria for FCRA Registration

The Association has to meet the following requirements to register under the Foreign Contribution Regulation Act (FCRA)

  • The Association must be registered under one of the laws governing Indian societies and be a non-profit organization, according to the FCRA standards.
  • Section 25 of the Companies Act of 1956.
  • Indian Societies Registration Act of 1860.
  • Indian Trusts Act of 1882.
  • Before applying for FCRA registration, the Association had to have operated for three years with a dedication to social progress in India.
  • The organization must have spent at least Rs. 15 Lakh on its main operations for the benefit of society over the previous three financial years to be eligible for registration under FCRA.
  • The submission of professionally audited Statements of Income and expenditure by chartered accountants is required to verify that the financial parameters are satisfied.
  • The Organization's primary operations must have made use of at least 80% of the foreign donation. The maximum amount of money that can be used for administrative costs is 20%. Any administrative costs that exceed twenty per cent must get approval from the federal government.
  • NGOs that receive foreign donations totalling more than Rs. 15 lakhs annually are required to register with the FCRA.
  • The Ministry of Home Affairs shall get prior approval from non-governmental organizations (NGOs) seeking foreign donations exceeding one crore rupees annually.

Types of Registration Under FCRA 2010

According to FCRA 2010, there are two options for an applicant to get registered, and they are as follows

Normal Registration

The candidate has to be signed up under:

  • The Indian Trusts Act of 1882
  • Societies Registration Act of 1860
  • Companies Act of 2013 - Section 8 Company, or any other Act that may be specified
  • A candidate must have endeavoured to engage in activities in their chosen area for the good of society, making suitable contributions
  • Must have invested a minimum of Rs. 15 lakhs in attaining its goals during the last three years
  • Submission of the financial accounts, professionally audited by certified chartered accountants, for the last three years

An organization that has just registered and is anticipated to accept foreign contributions may apply for Prior Permission (PP) authorization through the Ministry of Home Affairs

Prior Permission Registration

Institutions that are expected to receive donations from outside and are newly registered may consider the Prior Permission Registration. Prior authorization is given in order to accept a certain donation amount to complete specific projects. The non-profit has to be registered to

  • Societies Registration Act of 1860
  • Indian Trusts Act of 1882
  • Companies Act of 2013 or any other Act that may be necessary, and incorporated as a Section 8 company

Send a specific commitment letter with the following details to the Ministry of Home Affairs

  • The Contribution amount
  • The Proposed purpose for which the donation is to be made

Entities not eligible for FCRA Registration

The following organizations are not eligible to receive registration under FCRA:

  • The candidate is either Benami or fictitious.
  • The applicant is being prosecuted for engaging in any unfair behaviour.
  • An applicant who has been found guilty or charged with causing community strife in any section of a designated district or anywhere in the nation.
  • The entity has participated in any violent acts.
  • has used contributions from abroad for its own benefit.
  • Any organization prohibited by law from accepting any foreign grant or receipt.
  • Any such acceptance of a foreign donation that adversely impacts.
  • India's sovereignty.
  • Public Interest
  • Connection to any state.

Annual Return Filing under FCRA

You must submit an annual report to the Ministry of Home Affairs if you are a registered charity or trust that accepts donations from overseas. If your total income from overseas sources during a financial year exceeds Rs. 1 crore, you must furthermore file a quarterly return.

For every fiscal year (April 1 through March 31), a return needs to be filed by December 31st or within nine months of the year's conclusion. The return, which must be completed using the standard Form FC-4, must be accompanied by a certified balance sheet and statement of receipts and payments prepared by a chartered accountant.

File your returns with ease using the FCRA online site. The site is simple to use and navigate. Via the platform, you may also pay your FCRA fees online.

FCRA Bank Account

Every foreign contribution that an organization covered by the FCRA receives must go via a separate account called the FCRA Bank Account.

  • Only accounts created at the State Bank of India's New Delhi Main Branch are eligible to receive any donations from outside parties. After the application date, it takes seven days to create an FCRA account.
  • Foreign donations cannot be received by any current organization that holds an FCRA certification in any other account. However, the new applicants have to register an FCRA account following the Ministry of Home Affairs' issue of the FCRA certificate.
  • You cannot deposit or receive any money other than foreign donations into the FCRA bank account; it can only be used to collect foreign contributions. The FCRA account was created at the SBI, New Delhi Main Branch.

Procedure of FCRA Registration

The procedures to apply for this registration are as follows:

  • It is necessary to login to the FCRA website as the initial step.
  • Click on either Form FC-3A (Application for FCRA Registration) or Form FC-3B (Application for FCRA Prior Permission), as applicable.
  • The user will then be allowed to apply online on the homepage.
  • The next step is to create a username and password by clicking "Sign Up" after choosing the "Apply Online" option.
  • The candidate may access the account by logging in after creating a username and password and seeing a notification about it on the screen.
  • FCRA Registration must be selected from the dropdown list on the "I am applying for" page after logging in. The next option to choose is "Apply Online" after which is "Proceed Registration."
  • Next, select the FC-3 option from the title bar to begin the new registration process.
  • This makes way for the association form, where the applicant must input all pertinent information and submit the necessary necessary papers:- Association Address - Registration Number - Registration Date - Association Nature - Primary Goal of the Association - Darpan ID (optional) The submit button will be selected when these fields have been completed and the attachments have been added.
  • The next menu bar option that has to be chosen is the Executive Committee option. The Executive Committee form will be filled up with the details.
  • The applicant can add, remove, or update the details entered in the Executive Committee by selecting the "Add details of Key Functionary" option.
  • It is necessary to click the "Save" button after entering all of the Executive Committee's information.
  • Additionally, the bank's name, account number, IFSC code, and location must be disclosed, along with other bank facts.
  • Upon entering the bank details, all necessary papers must be supplied in PDF format.
  • The location and date must then be supplied before choosing the "final submission" option.
  • Clicking that specific button to complete the online payment is the last step. No modifications may be made to the aforementioned form after payment and submission.
  • The FCRA registration is valid for five years once it is approved. However, it should be emphasized that an application must be submitted six months before the registration expires to renew it.

Penalties for Violation of FCRA

The severity of the offence committed and the victim's losses determine the penalty for breaking the FCRA. The following are a few of the sanctions in India for FCRA infractions.

Compounding of offences

The list of offences that are capable of being compounded has been provided by the FCRA Department. The corresponding authorities listed in the Gazette may proceed with such compounding.

Actual damages

The amount of money that the victim lost as a result of the FCRA violation is referred to as actual damages. The real damages have no minimum or maximum.

Statutory damages

These are losses that don't need to be shown to have occurred; nonetheless, the maximum amount of money that can be awarded is Rs. 1,00,000 or 5% of the foreign contribution that was received during the non-submission period, whichever is greater.

Punitive damages

Such damages are issued to penalize an organization, company, or person and discourage future FCRA violations. The maximum amount that may be given out is unlimited.

Fines

The Ministry of Home Affairs may impose fines on non-governmental organizations (NGOs) that disobey or break the legislation.

Prohibition on taking foreign donations

Non-governmental organizations that have been found guilty twice may face a three-year ban on receiving foreign contributions.

Seizure and confiscation

Under the FCRA, the Central Government can seize and confiscate goods and currencies in the event of a violation.

Requirement for mandatory prior permission

Non-governmental organizations may still need to seek prior authorization even if they have a registration under FCRA.

Examination and confiscation of records and accounts

If an NGO violates the FCRA, the authorities may examine and confiscate their necessary papers and accounts.

Renewal of FCRA License

The five-year validity of an FCRA registration can be extended by applying for a renewal. An entity must submit a renewal application by the deadlines listed below:

  • At least six months before the date of expiration of the license.
  • At least a year in advance of the registration expiration date, if the company is working on a project that will take many years.

Cancellation/Suspension of FCRA Registration

If authorities believe that a registered entity is not operating legally and that its license should be revoked, they may take this action by notifying the relevant entity. The following are a few factors to take into account while terminating the license:

  • NGO disregards the Foreign Contribution (Regulation) Act's requirements.
  • If the organization doesn't file its annual report before the deadline.
  • If an investigation is conducted into any allegations of wrongdoing in the organization's activities and it is found that the allegations are valid.
  • The contribution is not used to accomplish the entity's primary goal or to fulfill the purpose specified in the FCRA registration application.

Latest Amendment in FCRA Registration 2022

Amendment in Rule 6 of FCRA 2011

Rule 6 relates to notifying about a foreign donation received from a relative. According to previous rule 6, every individual who receives a foreign donation from a relative of more than Rs. 1 lakh in a single financial year is required to notify the Central Government via Form FC-1 within 30 days of the contribution's date of receipt.

  • The current ceiling of Rs. 1 Lakh has been raised to Rs. 10 Lakh by the FCRA Amendment Rules 2022.
  • The current 30-day window for notifying the Central Government in FC-1 of the receipt of a foreign donation from family members has been extended to three months.
  • If a person receives a grant or foreign donation from a relative abroad that totals more than Rs. 10 lakh within a fiscal year, they must notify the Central Government in Form FC-1 to the government within three months.

Amendment in Rule 9 of FCRA 2011

In order to receive foreign contributions, Rule 9 requires submitting an application for FCRA registration or getting prior authorization. The organization applying must have an FCRA Bank account as one of the requirements for receiving the FCRA registration or prior authorization.

Clause (e) of sub-rule (1) and sub-rule (2) of Rule 9 are amended by the FCRA Rules 2022:

  • Giving notice for the establishment of a second FC-utilization bank account to use foreign contributions is required under Existing Rule 9(1)(e).
  • Similar to this, Rule 9(2)(e) mandates that, with prior authorization, a notification be sent for the establishment of a second FC-utilization Bank Account for the use of foreign contributions.

The previous rule states that after receiving a foreign contribution, an individual may open one or more accounts in one or more banks to use it. In all of these cases, an electronic notification in the form of Form FC-6D must be provided to the Secretary, Ministry of Home Affairs, New Delhi, within 15 days of the opening of any account. This is true for both FCRA prior approval and FCRA registration.

With effect from July 1, 2022, the Amendment Rules 2022 have extended the period of time to provide the notification in Form 6D from 15 days to 45 days in both situations of FCRA registration and FCRA prior authorization. Form FC-6D must be provided by FCRA registered entitlements within 45 days of the date the bank account was opened for FCRA use. For entities having previous authorization from the FCRA, Rule 9(2) requires that Form FC-6D be provided within 45 days of the date the FCRA usage bank account is opened (e).

Amendment in Rule 13 of FCRA 2011

  • The previous Rule 13(b) mandates that associations or FCRA-registered entitlements notify the FCRA via their official website or the FCRA website of their quarterly receipt of foreign contributions.
  • As of right now, FCRA registered entitlement holders are exempt from having to provide any notice of their quarterly receipt of foreign contributions, either on their own website or the FCRA website. This is stated in FCRA Rules 2022.

Amendment in Rule 17A of FCRA 2011

  • Anybody who has been granted a certificate of registration under section 12 or previous approval under section 11 of the Act is required, under the previous requirements of Rule 17A, to electronically notify the following modifications within 15 days of the change.
  • The period to provide the notification in Form 6A to Form 6E has been extended from 15 days to 45 days by the FCRA Amendment Rules 2022.

Amendment in Rule 20 of FCRA 2011

  • In accordance with the previous Rule 20, an application for a revision of an order issued by the appropriate authority under Section 32 of the Act must be sent on plain paper, with a fee of Rs. 3,000/-only, to the Secretary, Ministry of Home Affairs, Government of India, New Delhi.
  • According to the Amendment Rules 2022, an application for an order's amendment must be submitted online in the necessary format.

Why is FCRA registration important?

Due to its regulatory function in monitoring and controlling foreign donations to organizations operating in India, the registration under FCRA is very important. FCRA registration is essential because it guarantees accountability, transparency, and the use of cash received from outside sources. It acts as a framework for law enforcement to keep an eye on the flow and use of foreign donations to guard against any possible abuse, embezzlement, or redirection of money for purposes that might endanger public safety, national security, or order. Furthermore, this registration promotes credibility and trust with donors because it denotes adherence to strict compliance guidelines, financial transparency, and a commitment to the lawful use of foreign contributions for specified purposes like charitable endeavours, social welfare, or development projects.

Ensuring foreign money is utilized for approved purposes in line with the act's original goals is one way that compliance with FCRA requirements not only preserves the integrity of organizations but also protects the sovereignty and security of the country.

How Corpbiz help you to get FCRA Registration?

One of the platforms that works to meet all of your financial and legal needs and put you in touch with reliable specialists is CorpBiz. Due to our emphasis on streamlining legal requirements, clients have continuously given us positive reviews and sent us information regularly.

For assistance with FCRA Registration and its compliance for the efficient operation of your charity company in India, our CorpBiz specialists will be available. Professionals from CorpBiz will help you prepare effectively and affordably while ensuring that the process is completed successfully.

Additionally, our clients are always able to monitor the development of our platform. Our knowledgeable specialists are available on call if you have any queries regarding the Registration procedure under FCRA. CorpBiz will make sure that your interactions with experts are easy and pleasant.

As soon as you purchase a plan and add your queries related to FCRA registration, our experts will contact you, understand your requirements and will start the process. You will be required to submit certain necessary papers to our experts. Moreover, our experts will prepare an application for FCRA Registration along with completing all admissibility criteria for preliminary screening.

Why Contact Corpbiz?

Corpbiz has been serving its clients since last many years and here are the perfect reasons that will tell you why you should contact Corpbiz for registration under FCRA in India

  • Corpbiz has already served 100,000+ clients worldwide.
  • We have received a customer rating of 4.9+, and with this, you can determine the kind of service satisfaction we provide to our customers.
  • Everyone wants an experienced individual to perform their entire registration and compliance. We are proud to announce that, we have a team of 1000+ CA/CS/Lawyers and Engineers who are always ready to cater for the needs of customers and are working hard to satisfy clients.
  • Moreover, Corpbiz and our experts are among the top 1% of industry professionals.

Frequently Asked Questions

  • Initials of Chief Functionary in JPG format.
  • Certified copy of the Trust Deed or Registration Certificate of the Association.
  • Duly signed a letter of commitment from Donor.

FCRA Registration certificate once granted remains valid for a period of 5 years. To keep the registration valid, an application for renewal of this registration can be made 6 months prior to the date of expiry.

Yes. donation given by an individual of Indian origin and having foreign nationality is treated as a foreign contribution.

Yes, according to the law, any sum received from a foreign source in foreign money or rupees is considered a foreign contribution. Even when expressed in rupees, these transactions are regarded as foreign contributions.

Yes, any income or any other income earned from foreign contributions be considered a foreign contribution. Any revenue earned from the foreign contribution or interest thereon, as well as any interest accumulated on the foreign contribution placed in any bank mentioned in sub-section (1) of section 17, will likewise be considered foreign contributions.

No, Foreign contributions cannot be utilized or mixed with the Local receipts.

Yes, the infusion of foreign share capital in a company registered under Section 8 of the Companies Act 2013, is treated as a Foreign contribution.

FCRA registration is categorized into the following two types

  • Proper FCRA registration
  • Proper Permission for FCRA registration

Giving societies or non-profit organizations legal status is the main goal of the Society Registration Act. The statute grants society several rights and advantages upon registration, including the status of a legal body, the authority to bring and receive legal action, and the right to own property in its name.

When individuals join together to accomplish shared goals, a society is created. A society is made up of several organizations, institutions, and groupings.

The tax benefits available to a registered society are not available to an unregistered society. Stated differently, the imposition of taxes is not on individual members but rather on the registered society. Consequently, many exemptions available to registered co-ops are not available to unregistered individual societies.

After the receipt of the FCRA License, the entity must file an annual return in the form FC-4 online by visiting the official website of https://fcraonline.nic.in along with the following necessary papers certified by the chartered Accountant shall be annexed with FC-4

  • Scanned copy Income Statement
  • Scanned copy of the Balance Sheet
  • Statement of the foreign receipt
  • Payments and expenditures incurred by an entity

FC-4 is the annual compliance filed within the end of 9 months from the end of the financial year, i.e., this shall be filed on or before the 31st day of December every year.

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