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Core Purpose

Notification amending the Foreign Contribution (Regulation) Rules, 2011 to insert new disclosure requirements for movable and immovable assets acquired from foreign contribution in Form FC-4.

Detailed Summary

In G.S.R. 683(E) dated 22nd September 2023, styled the Foreign Contribution (Regulation) Amendment Rules, 2023, the Ministry of Home Affairs, exercising powers under section 48 of the Foreign Contribution (Regulation) Act, 2010 (42 of 2010), amends the Foreign Contribution (Regulation) Rules, 2011 by inserting, after clause (b) of serial number 3 in Form FC-4, new clauses (ba) requiring annual disclosure (as on 31st March of the financial year) of movable assets created out of foreign contribution, including opening value, value acquired, value disposed of, and closing balance-sheet value, and (bb) requiring disclosure of immovable properties acquired out of foreign contribution, including size, location and balance-sheet value; the amendment rules take effect from the date of publication in the Official Gazette; the principal rules were published vide G.S.R. 349(E) dated 29th April 2011 and previously amended by G.S.R. 292(E) dated 12th April 2012, G.S.R. 966(E) dated 14th December 2015, G.S.R. 199(E) dated 7th March 2019, G.S.R. 659(E) dated 16th September 2019, G.S.R. 695(E) dated 10th November 2020, a Corrigendum G.S.R. 17(E) dated 11th January 2021, and G.S.R. 506(E) dated 1st July 2022; issued under F. No. II/21022/23(12)/2020-FCRA-III and signed by K. Sanjayan, Director (FCRA).

Full Text

EXTRAORDINARY PART II —Section 3 —Sub-section ( i) PUBLISHED BY AUTHORITY (1) (2) (3) (4) (5) (6) No. 541] NEW DELHI , MONDAY , SEPTEMBER 25 , 2023/ ASVINA 3, 1945 CG-DL-E-25092023-248983 (1) (2) (3) (4) (5) ’’. [फा. सं. II/21022/23(12)/2020 -एफसीआरए -III] MINISTRY OF HOME AFFAIRS NOTIFICATION New Delhi, the 22nd September, 2023 G.S.R . 683(E) .—In exercise of the powers conferred by section 48 of the Foreign Contribution (Regulation) Act, 2010 (42 of 2010), the Central Government hereby makes the following rules further to amend the Foreign Contribution (Regulation) Rules, 2011, namely: - 1. Short tit le and commencement. — (1) These rules may be called the Foreign Contribution (Regulation) Amendment Rules, 2023. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Foreign Contribution (Regulation) Rules, 2011, in Form FC -4, in serial number 3, after clause (b), the following shall be inserted, namely: — “(ba) Details of movable assets created out of foreign Contribution (as on 31st March of Financial Year ): Sl. No. Description of the assets Value as on beginning of the Financial Year (in Rs.) Value of assets acquired during the Financial Year (in Rs.) Value of assets disposed of during the Financial Year (in Rs.) Value as per the balance sheet at the end of the Fin ancial Year (in Rs.) (1) (2) (3) (4) (5) (6) (bb) Details of immovable properties acquired out of foreign contribution (as on 31st March of Financial Year ): Sl. No. Details of immovable asset (Land /Buildings etc.) Size Location (Complete addre ss) Value as per the balance sheet (in Rs.) (1) (2) (3) (4) (5) ”. [F. No. II/21022/23(12)/2020 -FCRA -III] K. SANJAYAN, Director (FCRA) Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub -section (i), vide notification number G.S.R. 349(E), dated the 29th April, 2011 and subsequently amended, vide G.S.R. 292 (E), dated the 12th April, 2012, G.S.R. 966 (E), dated the 14th December, 2015, G.S.R. 199 (E), dated the 7th March, 2019, G.S.R. 659 (E), dated the 16th September, 2019, G.S.R. 695(E), dated the 10th November, 2020 and a Corrigendum vide G.S.R. 17(E), dated the 11th January, 2021, and G.S.R. 506(E), dated the 1st July, 2022. Uploaded by Dte. of Printing at Government of India Press, Ri ng Road, Mayapuri, New Delhi -110064 and Published by the Controller of Publications, Delhi -110054.

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