Ministry of Home Affairs
Amendment to FCRA
Posted On:
26 JUL 2022 4:56PM by PIB Delhi
The Central Government has notified the Foreign Contribution (Regulation) Amendment Rules, 2022 vide GSR No. 506(E) on 1st July, 2022 to further amend the Foreign Contribution (Regulation) Rules, 2011 (FCRR, 2011). These amendments aim to reduce compliance burden on citizens. As per amended Rule 6 of FCRR 2011, any person receiving Foreign Contribution (FC) more than Rs. 10 Lakh in a financial year from relatives [as defined in section 2(1)(r) of the Foreign Contribution (Regulation) Act, 2010] has to intimate to Central Government within three months of receipt of FC. Earlier such monetary threshold limit was Rs 1 Lakh and intimation to Central Govt. was required within thirty days.
Further, the time limit prescribed in rules 9(1)(e), 9(2)(e) and 17A of FCRR, 2011 for intimation to Central Government has been increased from 15 days to 45 days.
This was stated by the Minister of State for Home Affairs, Shri Nityanand Rai in a written reply to a question in the Lok Sabha today.
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(Release ID: 1844997)
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