| FCRA Exemption |
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RI South Asia has informed that the Ministry of Home Affairs, Government of India have extended the exemption given to various Rotary Clubs and Districts in India from the requirement of obtaining permission under the Foreign Contribution (Regulation Act), 1976 to accept foreign contributions when it is routed to them through the Rotary Foundation (India) [RFI] for two year i.e. from 01 April 2007 till 31 March 2009. FCRA exemptions subject to following terms and conditions: 1. RFI and all the recipient Rotary Clubs/Districts shall submit FC-3 Returns on the prescribed format within four months of the closure of financial year i.e. by 31 Jul 2008 for FY 2007-08 and by 31 Jul 2009 for FY 2008-09 directly to the Ministry of Home Affairs with a copy to RFI; 2. The exemption is applicable only for receipt of foreign funds from RFI. For receiving foreign funds from any other source, prior permission/registration under the Act from the Central Government is compulsory; 3. Apart from Rotary Clubs/Districts, RFI is not permitted to transfer foreign funds to any other organization which is not registered/granted prior permission under the Act; 4. RFI and all the recipient Rotary Clubs/Districts shall observe the provisions made under Foreign Contribution (Regulation) Act, 1976 and the Foreign Contribution (Regulation) Rules, 1976 meticulously, once the foreign funds are received and utilized for the stated objectives of the organization. As in the past, Rotary Clubs & Districts in India are required to open separate bank accounts exclusively for receipt of foreign funds from RFI, submit full accounts of funds utilized by them to RFI along with FC-3 Returns. The district leadership in India has been provided with a copy of the order. |
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