TaxTMI 
TaxTMI 
Foreign Contribution (Acceptance or Retention of Gifts or Presentation) Rules, 2012
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....-2012 GSR 150(E)- In exercise of the powers conferred by clause (c) of sub-section (2) of section 48 of the Foreign Contribution (Regulation) Act, 2010 (42 of 2010), the Central Government hereby makes the following rules with regard to the acceptance or retention of foreign contribution by way of gift or presentation made to a member of an Indian delegation, namely- Short title and commence....
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....iod of thirty days of the receipt of such gift or presentation, furnish the following information in writing to the Secretary to the Government of India in the Ministry or the Department that has sponsored the programme, namely- (i) the fact of having received such gift or presentation; (ii) the foreign source from which such gift or presentation has been received; ....
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....son receives any gift or presentation during his or her visit to any foreign country or territory outside India, he or she shall, within a period of 30 days from his or her return to India, furnish the information specified in clauses (i) to (v) of sub-rule (1) in the manner specified therein. (3) The Secretary to the Government of India, referred to in sub-rule (1) shall, forward every such gi....
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....he market value of the gift or presentation as assessed under sub-rule (4) or as decided under sub-rule (5) shall be communicated to the person concerned. (7) If the Market value of the single gift or presentation as assessed under sub-rule (4) does not exceed five thousand rupees, it shall be returned to the person concerned for retention by him or her: Provided that in the case of gift or ....