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Clarification for proceeds on FDs in FCRA Utilization Account.
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.... CHAND NATIONAL STADIUM NEW DELHI - 110002 8^th August, 2024 Subject: Clarification for proceeds on FDs in FCRA Utilization Account. Dear Sir, With reference to your letter no. ICICl/FCRA/Queries/May 24 dated 29th May, 2024 on the above-mentioned subject requesting to clarify whether the proceeds on FDs which are created out of foreign contribution can ....
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....er also indicated illustrative list of contributions which are Foreign Contribution' as defined under the FCRA 2010. 2 . From the foregoing it can be concluded that fixed deposits created or investment in financial instruments out of Foreign Contribution in FCRA utilization account, on maturity or returns of such investments/FDs shall be credited into a FCRA utilization account of the....