The Central Government vide Notification No. F. No. II/21022/23(12)/2020-FCRA-III in G.S.R. 683(E) dated 22.09.2023 notified Foreign Contribution (Regulation) Amendment Rules, 2023 and amended the Foreign Contribution (Regulation) Rules, 2011 to amend the Form FC-4 to intimate the details of movable assets and immovable properties created and acquired out of foreign Contribution as on 31st March of every financial year.
As per Rule 17 of the Foreign Contribution (Regulation) Rules, 2011, every person who receives foreign contribution under the Foreign Contribution (Regulation) Act, 2010, shall submit a signed or digitally signed Annual Returns in Form FC-4 for every financial year.
Form FC-4 shall be required to be filed within 9 months from the end of the financial year which means the due date for filing of Form FC-4 by a FCRA registered organization or NGO is 31st December of every year.
It is mandatory to file a NIL Return (FC-4) even if FCRA registered organizations or NGOs do not receive foreign contributions during a financial year.
Presently, the details of FCRA assets purchased during the financial year are required to be reported under para 3(b) of Form FC-4. However, with effect from 22-Sep-2023, the Amendment Rule has inserted two new paras as para 3(ba) and 3(bb) after para 3(b) in FC-4.
The present para 3(b) of Form FC-4 is reproduced below-
The newly inserted para 3(ba) of FC-4 is reproduced below-
Under the newly inserted para 3(ba), the details of movable assets created out of foreign contribution as on 31st March of the financial year has to be reported in the table provided. This table has 6 columns and requires disclosing the description of assets, value of the assets as on the beginning of the financial year, assets acquired during the financial year, assets disposed of during the financial year and the value of assets as per the Balance Sheet at the end of the financial year.
The newly inserted para 3(bb) of FC-4 is reproduced below-
Under the newly inserted para 3(bb), the details of immovable properties viz., land, building, etc., acquired out of foreign contribution are required to be reported.
This table has 5 columns and requires disclosing details of immovable assets, its size, location (complete address) and value as per the Balance Sheet as on 31st March of the financial year.
The due date for filing of Form FC-4 for FY 2022-23 is 31st December 2023. Hence, any annual return in Form FC-4 filed after 22.09.2023 shall be in the new format of FC-4 which requires reporting of the above movable and immovable assets. However, if any FC-4 is already filed by any organization before the date of this notification i.e. 22.09.2023, the same is not required to be revised.
Read the full text of the Ministry of Home Affairs (MHA) Notification dated 22.09.2023 on Amendment in FCRA Annual Return Form FC-4
MINISTRY OF HOME AFFAIRS
NOTIFICATION
New Delhi, the 22nd September, 2023
G.S.R. 683(E).—In exercise of the powers conferred by section 48 of the Foreign Contribution (Regulation) Act, 2010 (42 of 2010), the Central Government hereby makes the following rules further to amend the Foreign Contribution (Regulation) Rules, 2011, namely:-
1. Short title and commencement. — (1) These rules may be called the Foreign Contribution (Regulation) Amendment Rules, 2023.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Foreign Contribution (Regulation) Rules, 2011, in Form FC-4, in serial number 3, after clause (b), the following shall be inserted, namely:—
“(ba) Details of movable assets created out of foreign Contribution (as on 31st March of Financial Year):
(bb) Details of immovable properties acquired out of foreign contribution (as on 31st March of Financial Year):
[F. No. II/21022/23(12)/2020-FCRA-III]
K. SANJAYAN, Director (FCRA)
Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide notification number G.S.R. 349(E), dated the 29th April, 2011 and subsequently amended, vide G.S.R. 292 (E), dated the 12th April, 2012, G.S.R. 966 (E), dated the 14th December, 2015, G.S.R. 199 (E), dated the 7th March, 2019, G.S.R. 659 (E), dated the 16th September, 2019, G.S.R. 695(E), dated the 10th November, 2020 and a Corrigendum vide G.S.R. 17(E), dated the 11th January, 2021, and G.S.R. 506(E), dated the 1st July, 2022.
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