https://www.taxtmi.com/article/detailed?id=11784 Amendment requires receipt of all foreign contribution into a designated FCRA Account at the specified SBI New Delhi branch, permits additional FCRA accounts in scheduled banks for utilisation, and prohibits non-foreign funds in those accounts. Banks and authorised persons must report prescribed remittance particulars. Courts have allowed organisations that opened designated accounts belatedly to file Form FC-4 with the subsequently opened SBI account details and stayed coercive action or further penalties when returns were uploaded within a short grace period, while upholding penalties where delay was unexplained. en-us Sat, 26 Aug 2023 08:25:20 +0530 Sat, 26 Aug 2023 08:25:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11784 Amendment requires receipt of all foreign contribution into a designated FCRA Account at the specified SBI New Delhi branch, permits additional FCRA accounts in scheduled banks for utilisation, and prohibits non-foreign funds in those accounts. Banks and authorised persons must report prescribed remittance particulars. Courts have allowed organisations that opened designated accounts belatedly to file Form FC-4 with the subsequently opened SBI account details and stayed coercive action or further penalties when returns were uploaded within a short grace period, while upholding penalties where delay was unexplained. Articles FEMA - Foreign Exchange Management Sat, 26 Aug 2023 08:25:20 +0530 https://www.taxtmi.com/article/detailed?id=11784