TaxTMI 
TaxTMI 
Regulation of Acceptance or Retention of Foreign Contribution by Way of Gift or Presentation
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....on.- 1. Any person specified in section 4 of the Act who is a member of any Indian delegation may accept any foreign contribution by way of a gift or presentation made to him as a member of such delegation (hereinafter referred to as such person), subject to the provisions of this regulation. 2. Where such person receives any foreign contribution by way of gift or presentation, he shall, within....
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....ch intimation may be made by him within thirty days from the date of his return to India. 7[Provided further that the requirements contained in these regulations shall be complied with by such person if the leader of the Indian delegation is of the opinion that the market value in India, of such gift (s) of presentation(s) exceeds Rs. 1,000 and the said leader directs in writing to such person to....
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....ation in the Toshakhana, in accordance with the rules applicable, for the time being in force, to the valuation of articles in the Toshakhana, and such person shall be intimated in writing of such assessment forthwith. 5[6. If any question arises relating to the assessment so made under sub-regulation (5) it shall be referred to the Central Government who shall decide the same.] 7. Every such gi....
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....e country of origin] of which, as assessed under sub-regulation (5), exceeds 4[three thousand rupees] shall be retained in the Toshakhana: Provided such person shall have the option, that exercised by him within thirty days from the date of receipt by him of the intimation under sub-regulation (5), to purchase such gift or presentation on payment of the difference between 3[the market value....