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

Quick Summary AI Powered

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.

More Pictures


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:

Language: English

Reading Time: 4 minutes read

Article Length: 678 words

Coverage Area: India

Availability: Desktop Web, Mobile Web

News ID: 26745

View Article Analysis

About Business Standard

Business Standard Logo

Main Topics: EconomyFinance

Official Website:

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

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #49

Publisher Details

BEAMSTART brings you the latest news, jobs, and events from all around the world on startups, technology, and business. Stay updated with industry news, plug-in to exciting events, and discover incredible career opportunities with the world's most innovative companies.

© Copyright 2022 BEAMSTART. All Rights Reserved.