https://www.taxtmi.com/notifications?id=24807 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. en-us Thu, 12 Apr 2012 00:00:00 +0530 Mon, 08 Jul 2024 21:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=24807 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. Notifications FEMA Thu, 12 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/notifications?id=24807