The Union home Minister has amended some fixed rules related to Foreign Contributions Regulation Act (FCRA).
Indian to receive up to Rs 10 lakh in a year from relative staying abroad without informing the authorities. The earlier limit was Rs 1 lakh.
The another amendment is if the amount exceeds it, the individual will now have 90 day to inform the government, instead of 30 days earlier.
Know about FCRA:
FCRA stand for Foreign Contributions Regulations Act, which was originally passed in 1976 and modified 2010. FCRA is a law to regulate foreign contribution provided by certain individuals or associations to NGOs and others within India. It is a contribution which covers any “donation, delivery or transfer made by any foreign source of any article. Donations made by Non-Resident Indians (NRIs) are not considered to be foreign contributions.
