After a circular regarding DSC of chief functionary, FCRA Department has issued a circular on 17th June 2015, (Download from here)asking for suggestion on amendments to Foreign Contribution Regulation Rules, 2011 by Foreign Contribution Regulation Rules (2015).
THIS IS A DRAFT AMENDMENTS and suggestions or comments asked from public and other stakeholders on or before 1st July, 2015.
We are in the process of analyzing and studying all the changes in the amendments and it impacts. Meanwhile let us see important changes which are suggested in the amendments of FC Rules :
Website will become mandatory
After this amendments, every NGOs with FC registration will have to build a website. No, it is not declared directly as mandatory. But changes made to Rule 13(1) stating that every registered organization has to publish audited Income Expenditure, Receipt Payments and Balance Sheet of Foreign contribution to its website before 31st December of every year. Such website has to be declared as official website and is to be informed to FCRA department.
Have to publish Foreign Receipt within 7 days
Yes, you have to publish to your official website, every foreign receipts within seven days of receipts. Refer rule 13(B) of such draft amendments.
Bank will have to report in 48 hours
Bank will have to report of FCRA department within 48 hours of any transactions in respect of receipt and utilization of any foreign contribution. Refer rule 16 (2) of such draft amendments.
We have already write a blog stating how FCRA department is eager to implement all the online procedure. Here in this amendments it is clearly mention that now onwards all the forms will be filled online through DSC and also you can make payment through online payment gateway.
Change in Forms
All the form numbers will be changed e.g. Annual Return Form FC-6 now become FC-4. Not only form numbers, but details and information given in the forms will also changed. We will soon post a blog showing what changes will be made in Forms.
You can give Suggestions
FCRA department has asked for suggestions on the above mentioned amendments from public. You can give your suggestions by email to Mr. A.K. Dhyani, Under Secretary to the Government of India on email@example.com.
Alternatively you can give your suggestion in the comment box below. We will compile all the suggestions and email to the authority.
Note – This amendments are draft and not final. This will be implemented only after FCRA Rule, 2015 published in the Official Gazzette.