Centre amends FCRA allowing Indians to receive up to Rs ten lakh without informing Authorities

Sakshi Education

Union Home Ministry has amended the Foreign Contribution Regulation Act (FCRA) giving certain relaxations such as allowing relatives to send more money to India freely.
The amended rule now allows relatives to send 10 lakh rupees without informing the government. If the amount exceeds, the individuals will now have three months to inform the government against 30-days earlier.
The amended rule also gives more time to the organisations to inform the government about opening of bank accounts for utilization of funds received under ‘registration’ or ‘prior permission’ category.
A provision where an organisation/individual receiving foreign funds had to declare such contributions every quarter on its official website has also been done away with.

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