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Indians can now receive up to Rs 10 lakh annually from relatives abroad

Business Standard LogoBusiness Standard1 mo ago

Indians can now receive up to Rs 10 lakh annually from relatives abroad

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The govt also said if the amount exceeds, the individuals will now have 90 days to inform the government instead of 30 days earlier.

The Union Home Ministry has amended certain rules related to the Foreign Contribution (Regulation) Act (FCRA) on Friday.

The new law also says that organisations receiving foreign funds will not be able to use more than 20 per cent of such funds for administrative purposes.


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Article Details

Author / Journalist: BS Web Team

Category: EconomyFinance

Topics: Contribution Ministry Funds Organisations Receiving Inform Foreign Lakh Days Year Rules

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-02, 21:57:00

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Reading Time: 4 minutes read

Article Length: 678 words

Coverage Area: India

Availability: Desktop Web, Mobile Web

News ID: 26745

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About Business Standard

Business Standard Logo

Main Topics: EconomyFinance

Official Website: business-standard.com

Update Frequency: 255 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 5h ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #49

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