NGO can transfer tax refund from non-FCRA to FCRA account without violating foreign contribution law.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Associations can transfer proportionate income tax refund pertaining to FCRA account received in non-FCRA bank account back to FCRA bank account without violating Section 17 of Foreign Contribution (Regulation) Act, 2010. TDS deducted may be accounted as utilization of FC, and refund received in FCRA account treated as "other income" reportable in FC-4 form.....