NGO - Receipt of Foreign Donations

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..... NGO - Receipt of Foreign Donations
Query (Issue) Started By: - satbir singh wahi Dated:- 2-6-2010 Last Reply Date:- 1-7-2014 FEMA
Got 3 Replies
FEMA
NGO HAS GOT PERMISSION FROM MHA TO REC .....

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..... EIVE FOREIGN DONATIONS, AND HAS OPENED A/C WITH ICICI BANK TO RECEIVE FOREIGN DONATIONS. BUT NOW BANKS IN U.K. AND CANADA ARE NOT RECEIVING FUNDS AND SAYING NO FUNDS CAN BE TRANSFERED TO NGO IN INDIA. .....

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..... ONLY FUNDS TO INDIVIDUAL A/C CAN BE TRANSFERRED. IS THIS VERSION OF FOREIGN BANKS CORRECT. Reply By GOPALJI AGRAWAL: The Reply: The reason from the denying bankers must be seeked. Reply By Surender G .....

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..... upta: The Reply: You must know first that why foreign banks are denying the remittance to India. Is there any restriction under the respective laws of those countries Reply By Sunil Kumar: The Reply: .....

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..... There is no such restriction wrt transfer of funds to NGO under FCRA. Many of my clients are still receiving foreign grants. There is no issue wrt individual vs NGO. Still exact reason should be ob .....

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..... tained from foreign donor.
Discussion Forum - Knowledge Sharing .....

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