Transfer of foreign contribution subject to approval and reporting; limited transfers to unregistered persons require application and declaration. The amendment excludes articles gifted for personal use from the definition of foreign contribution where their market value in India on the date of gift does not exceed a prescribed monetary threshold. It also establishes a procedure allowing a registered person to transfer a limited portion of foreign contribution to an unregistered person only after applying to the Central Government in Form FC 10 and making a declaration; transfers to other registered persons are permitted without prior approval provided the recipient is not proceeded against, and both parties must reflect transfers in Form FC 6 returns.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transfer of foreign contribution subject to approval and reporting; limited transfers to unregistered persons require application and declaration.
The amendment excludes articles gifted for personal use from the definition of foreign contribution where their market value in India on the date of gift does not exceed a prescribed monetary threshold. It also establishes a procedure allowing a registered person to transfer a limited portion of foreign contribution to an unregistered person only after applying to the Central Government in Form FC 10 and making a declaration; transfers to other registered persons are permitted without prior approval provided the recipient is not proceeded against, and both parties must reflect transfers in Form FC 6 returns.
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