Foreign Receipts From Relatives Abroad Upto Rs 10 Lakhs Per Year Exempted From Disclosure : Centre Amends FCRA Rules

The Central Government has amended the Foreign Contribution(Regulation) Rules 2011 exempting annual receipts up to Rs 10 lakh from foreign relatives(who are citizens of other countries) from declaration and increasing the time for declaration as three months.As per Rule 6 of the FCRA Rules 2011, any person receiving foreign contribution in excess of one lakh rupees or equivalent thereto in...