Is it ok for a non FCRA NGO to receive upto USD 10,000 per annum? Do they need a separate bank account for this?
Please let me know.
Thanks for your reply to my query which is useful,
FCRA holding ngo as donar give consultancy to FCRA Holding ngo. What treat done by consultancy receiver ngo as FC or NONFC
I fully agree with the response of Soma Sastry for getting from a foreign source.
I think it is safe if you put the amount in a separate account keeping futuristic aspect in mind
Kindly note the following:
1. As such NFC organization cannot received USD 10,000 without the prior permission from MoHA if the source of funds in FC. If the amount is FC, then a separate bank account is needed
2. If the funds are being routed through a UN / affiliated agencies (list available on the FCRA website), then there is no requirement of FCRA. Such funds do not attract the provisions of FCRA
3. If the funds are being donated by NRI, in such case also FCRA is not required as the source of funds is Indian.
Thanks and regards,
B V Soma Sastry
How is the organization receiving USD without having FCRA registration ? It has to get FCRA registration for receiving any foreign fund, unless it is in the exempted category, and it should always receive such funds in exclusive bank account approved by the FCRA Department.
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