Our organization is a trust registered under Foreign \nContribution (Regulation) Act 2010.<\/p>\n\n\n\n
We received funding from an \norganization outside India for a specific project. Actual expenditure was less \nthan projected, and the said organization outside India requires that all \nunutilised fund needs to be returned by us to that organization in USD. We have \nthe entire project account Audited by an External Auditor. <\/p>\n\n\n\n
We approached our Banker for the \nrefund, but they advised us to seek prior approval from the Ministry of Home \nAffairs (MHA).<\/p>\n\n\n\n
Our query here is that we are \nrefunding unutilized amount of foreign remittance to the same organization from \nwhich we have received it, in this case do we need to seek special approval from \nMHA. What can be the best way to process this earliest possible as per \napplicable laws.<\/p>\n\n\n\n
Best<\/p>\n\n\n\n
Amit<\/p>\n\n\n\n
Amit K. Tripathi
Director
Ananta Aspen Centre<\/p>\n","protected":false},"excerpt":{"rendered":"
Our organization is a trust registered under Foreign Contribution (Regulation) Act 2010. We received funding from an organization outside India for a specific project. Actual expenditure was less than projected, and the said organization outside India requires that all unutilised … Continue reading