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FCRA Registration: Your Ultimate Guide to Foreign Funding Registration for NGOs
If you are an NGO looking to receive foreign funding, then FCRA registration is a must. The Foreign Contribution Regulation Act (FCRA) was enacted in 1976 to regulate the acceptance and utilization of foreign contributions by individuals, associations, and companies working in India. The act aims to ensure that such contributions do not adversely affect the political or economic interests of India.
FCRA registration is mandatory for all NGOs that wish to receive foreign funding. It is a complex process that requires careful planning and execution. This page presents the complete details when an NGO applies for foreign funding registration.
What is FCRA?
The Foreign Contribution Regulation Act (FCRA) regulates the acceptance and utilization of foreign contributions by individuals, associations, and companies working in India. The act aims to ensure that such contributions do not adversely affect the political or economic interests of India.
Who needs FCRA registration?
All NGOs that wish to receive foreign funding need FCRA registration. This includes trusts, societies, non-profit companies, etc.
What are the benefits of FCRA registration?
There are several benefits of having FCRA registration:
1. Eligibility for receiving foreign funds: Only registered NGOs can receive foreign funds legally.
2. Increased credibility: Having FCRA registration increases your credibility as an organization as it shows that you have been vetted by the government.
3. Tax exemption: Registered NGOs are eligible for tax exemptions under Section 80G of Income Tax Act.
4. Access to international donors: Having FCRA registration makes it easier for international donors to donate funds as they know their money will be used legally and transparently.
How can I apply for FCRA Registration?
The process of applying for FCRA Registration involves several steps:
1. Obtain DSC (Digital Signature Certificate): A digital signature certificate is required for online filing of application forms with Ministry Of Home Affairs (MHA).
2. Obtain PAN and TAN: Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) are required for FCRA registration.
3. Prepare documents: The following documents are required for FCRA registration:
- Memorandum of Association/Trust Deed
- Registration Certificate
- Audited Balance Sheet, Income & Expenditure Statement or Annual Report of the last three years
- Activity Report of the last three years
- List of office bearers/directors with their contact details
4. Apply online: The application can be filed online on the FCRA website.
5. Pay fees: The fees for FCRA registration vary depending on the type of organization.
6. Wait for approval: Once you have submitted your application, it will be reviewed by MHA officials who will conduct a field inspection to verify the information provided in the application form.
7. Receive certificate: If your application is approved, you will receive an FCRA certificate which is valid for five years.
Conclusion
FCRA registration is a must if you want to receive foreign funding legally in India. It is a complex process that requires careful planning and execution but it has several benefits such as eligibility to receive foreign funds, increased credibility, tax exemption, and access to international donors. If you are an NGO looking to apply for FCRA registration, make sure you follow all the steps carefully and provide accurate information in your application form so that your chances of approval are higher.
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