Provisions of foreign contribution (Regulation) Act, 2010

Q.  Which of the following statements is/are correct about foreign contribution (Regulation) Act, 2010?

1. Organizations working in cultural, social, economic, educational or religious sectors can accept foreign contribution.
2. But they have to get permission from the Ministry of economic Affairs.
- Published on 08 Sep 15

a. Only 1
b. Only 2
c. Both
d. None

ANSWER: Only 1
 
Organizations working in cultural, social, economic, educational or religious sectors can accept foreign contribution. But they have to get permission from the Ministry of Home Affairs. Also they have to maintain separate account book listing the donation received from foreigners and get it audited by a Chartered Accountant and submit it to Home Ministry every year.

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