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Relatives abroad can now send up to ₹10 lakh without informing Central government according to revised FCRA Rules
Tax

Relatives abroad can now send up to ₹10 lakh without informing Central government according to revised FCRA Rules

Rules under the Foreign Contribution (Regulation) Act (FCRA) have been amended by the Union Ministry of Home Affairs. The Amendment Rules, 2022 effectively increase the amount of money that Indian citizens can receive from relatives residing abroad, without informing the Central government. The time period within which the Central government is to be informed, in case the amount is over ₹10 lakh, has been increased from thirty days to three months.

Here are a few other changes made to the Foreign Contribution (Regulation) Act:

  1. NGOs opening bank accounts for receiving foreign contribution are required to intimate the Ministry of Home Affairs within forty five days of its opening.
  2. Rule 13 (b), which earlier made it mandatory for receivers of foreign contribution to furnish details of the same on their website every quarter, has been omitted.
  3. Rule 17A now allows NGOs up to forty five days' time instead of fifteen days to inform the Home Ministry about changes in its bank account.