Quick Answer: Who Cannot receive foreign contribution?

Can Section 8 companies receive contributions from overseas or non residents?

There are special requirements to be complied with under the Foreign Contribution and Regulation Act, 2010 before a Section 8 Company can receive any contributions or donations from overseas/outside India from non-residents. The provisions of the said Act are in addition to the provisions under the Companies Act.

Can Indian trust receive foreign donations?

Any donation from a Non-resident Indian who is a foreign national can be received only if the recipient charitable trust or institution is registered under FCRA (Foreign Contribution Regulation Act, 2010).

Can prohibit a person or an organization from accepting foreign contribution under the Foreign Contribution Regulation Act 2010?

The following are the persons prohibited from accepting foreign contribution: Candidate for election; Correspondent, columnist, cartoonist, editor, owner, printer or publisher of a registered newspaper; … Correspondent or columnist, cartoonist, editor, owner of the association or company referred to in (g) above.

Can NGO accept foreign donation?

In a circular, the ministry said all NGOs registered under the Foreign Contribution Regulation Act (FCRA) should receive foreign donations in a single designated bank account.

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Who can receive foreign contribution?

(1) Every person who has been granted a certificate or given prior permission under section 12 shall receive foreign contribution in a single account only through such one of the branches of a bank as he may specify in his application for grant of certificate: Provided that such person may open one or more accounts in …

Can a private company receive donations?

The Companies Act, 2013 allows only banking companies, non-banking financial companies, housing finance company and company specified by the Central Government to accept invite, accept or renew deposits from the public. Therefore, private limited companies are strictly prohibited form accepting public deposits.

Can an individual receive foreign contribution?

The definition of the ‘person’ in the Foreign Contribution (Regulation) Act, 2010 includes any individual and ‘Hindu Undivided Family’ among others. As such an Individual or an HUF is also eligible to apply for prior permission to accept foreign contribution. Q.

Can political parties receive foreign funding Upsc?

As per the FCRA, members of legislatures, political parties, government officials, judges and media persons are prohibited from receiving any foreign contribution.

Can Trust accept foreign donations without FCRA?

Unless one has FCRA Prior Permission or FCRA Registration, one cannot accept donation (in any currency including INR, even from NRO or NRE acct)/ contribution in kind exceeding Rs 25,000 (excluding personal gifts)/ hospitality/ CSR support—from a foreign source.

Can political party accept foreign contribution?

Section 11 of the FCRA, 2010 prescribes that no person, save as otherwise provided in the Act, shall accept foreign contribution unless such person obtains a certificate of registration or prior permission of the Central Government.

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What is FCRA no?

Foreign contribution regulation Act 1976 or FCRA is a law of government of India which regulates receipt of foreign contributions or aid from outside India to India territories. This is essential to ensure that such aid does not effect political or any other situation in India.

Who needs FCRA?

Charitable Trusts, Societies, Section 8 Company that receive foreign contribution or donation from foreign sources are required to obtain registration under Section 6(1) of Foreign Contribution Regulation Act, 2010. Such a registration under the Foreign Contribution Regulation Act, 2010 is called a FCRA registration.