https://www.taxtmi.com/acts?id=12746 Rule 16 requires every bank to report to the Central Government within forty-eight hours each transaction concerning receipt or utilisation of foreign contribution. This duty applies to every recipient, regardless of whether registration or prior permission has been obtained. The rule replaces an earlier framework that prescribed differentiated thirty-day reporting duties for recipients without required approval and certain high-value foreign contribution receipts. en-us Sat, 14 May 2011 15:24:21 +0530 Tue, 01 Sep 2026 15:50:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12746 Rule 16 requires every bank to report to the Central Government within forty-eight hours each transaction concerning receipt or utilisation of foreign contribution. This duty applies to every recipient, regardless of whether registration or prior permission has been obtained. The rule replaces an earlier framework that prescribed differentiated thirty-day reporting duties for recipients without required approval and certain high-value foreign contribution receipts. Act-Rules FEMA Sat, 14 May 2011 15:24:21 +0530 https://www.taxtmi.com/acts?id=12746