Foreign Contribution Securities Account Intimation was omitted, ending the prescribed reporting form and related audit certification requirements. Form FC-8, relating to intimation of foreign contribution held in securities under rule 17(4), stood omitted with effect from 14 December 2015. The former ... Summary
Foreign Contribution Securities Account Intimation was omitted, ending the prescribed reporting form and related audit certification requirements.
Form FC-8, relating to intimation of foreign contribution held in securities under rule 17(4), stood omitted with effect from 14 December 2015. The former form required disclosure of securities received, held, sold, or transferred; Reserve Bank permissions; dividends or interest; and corresponding foreign contribution currency account entries. It also required a chief functionary's declaration and a chartered accountant's certification of investments, record maintenance, and the correctness of financial statements.
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