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.
What is the meaning of FCRA account?
The Foreign Contribution (Regulation) Act, 1976 (FCRA, 1976) casts certain obligation on banks in regard to acceptance of foreign inward remittances for onward credit to the accounts of associations/organisations in India.
Why FCRA registration is required?
All about FCRA Registration, Prior permission, Eligibility & Compliance requirements. The FCRA was enacted with the primary purpose of regulating the inflow of foreign contributions and ensuring that the received foreign contributions are not utilized for illegal purposes.
Step 1: Go to FCRA online portal.
Step 2: Click on ‘FCRA online forms’ to register in FCRA.
Step 3: In the next screen select application for FCRA registration link. The link will redirect to next page.