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Govt amends FCRA rule, permits relatives to send Rs 10 lakh without disclosing it.

 

IRELAND: The Government has amended the Foreign Contribution Regulation (FCRA) Act. The new law allows sending up to Rs 10 lakh to relatives without telling the government. If the amount is exceeded, individuals are given three months instead of 30 days to notify the government.

Rule 6 addresses the possibility of receiving foreign contributions from relatives. It had earlier said that "if any person receives foreign contributions from his relatives exceeding or equal to Rs 1 lakh in a financial year, he shall inform the Government (details of the fund) within 30 days of receipt". Now, this Act amended by the Government

"In Rule 6 of the Foreign Contribution (Regulation) Rules, 2011, the terms "one lakh rupees" shall be substituted for "ten lakh rupees," and the phrases "thirty days" shall be substituted for "three months," according to the announcement.



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