FEMA and International Taxation
- Foreign Contribution (Regulation) Act, 2010
- Accounts & Audit
- All FCRA services online
- Applicability
- Change of designated bank account, name, address, aim, objects or key members of the association
- Declaration of receipts of foreign contribution
- Foreign Contribution
- Inspection & Seizure
- Introduction
- Penalty
- Registration of the Association
- Restriction on Administrative Expenses
- Restrictions on acceptance of foreign hospitality
- Restrictions on Accepting FC
- Speculative Activity
- Total Ban on acceptance of Foreign Contribution & Hospitality
- Transfer of FC to other Registered or Unregistered Persons
- Foreign Exchange Management Act, 1999
- Acquisition and transfer of Immovable property in India
- Acquisition and Transfer of Immovable Property outside India
- Bank Accounts in India
- Borrowings from Non-residents
- Branch/Liaison/Project Office in INDIA
- Branch/Liaison/Project Office outside India
- Capital & Current Account Transactions
- Compounding & Contravention under FEMA
- Cross Border Merger Regulations
- Introduction
- Investment in India
- Miscellaneous
- Overseas Direct Investments
- Residential Status under FEMA
- Trade Transactions – Import & Export
- International Taxation
Registration of the Association
- Application for registration shall be submitted electronically in Form FC 3A. The applicant shall upload the signed or digitally signed application along with scanned documents as specified by the Central Government.
- Registration granted shall be valid for 5 years from the date of its issue.
- Application for renewal to be made in Form FC 3C, six months before the date of expiry of the certificate.
- Act provides that registration may be granted, ordinarily within 90 days from the date of receipt of application, however practical experience is that the process takes much longer.
- The Ministry of Foreign Affairs has introduced a new facility “FCRA – Online” to facilitate associations to file their applications for registration and submit statutory forms online. Refer fcraonline.nic.in.
- Recent amendment to the Rules have made it compulsory to file all forms under FCRA electronically and the payment of fees has to be made online through the payment gateway, instead of the earlier requirements of filing hard copies and payment by demand draft or banker’s cheques.