Section 17 in The Foreign Contribution (Regulation) Rules, 2011
17. Intimation of foreign contribution by the recipient.
- [(1) Every person who receives foreign contribution under the Act, shall submit a signed or digitally signed report electronically online in Form FC-4 with scanned copies of income and expenditure statement, receipt and payment account and balance sheet for every financial year beginning on the 1st day of April within nine months of the closure of the financial year.] [Substituted by Notification No. G.S.R. 966(E), dated 14.12.2015 (w.e.f. 29.4.2011).](2)The annual return in Form [FC-4] [Substituted for the figure 'FC-6' by Notification No. G.S.R. 966(E), dated 14.12.2015 (w.e.f. 29.4.2011).] shall reflect the foreign contribution received in the exclusive bank account and include the details in respect of the funds transferred to other bank accounts for utilisation.(3)If the foreign contribution relates only to articles, the intimation shall be submitted in Form [FC-1] [Substituted for the figure 'FC-7' by Notification No. G.S.R. 966(E), dated 14.12.2015 (w.e.f. 29.4.2011).].(4)If the foreign contribution relates to foreign securities, the intimation shall be submitted in Form [FC-1] [Substituted for the figure 'FC-8' by Notification No. G.S.R. 966(E), dated 14.12.2015 (w.e.f. 29.4.2011).].(5)Every report submitted under sub-rules (2) to (4) shall be duly certified by a chartered accountant.(6)Every such return in Form [FC-4] [Substituted for the figure 'FC-7' by Notification No. G.S.R. 966(E), dated 14.12.2015 (w.e.f. 29.4.2011).] shall also be accompanied by a copy of statement of account from the bank where the exclusive foreign contribution account is maintained by the person, duly certified by an officer of such bank.(7)The accounting statements referred to above in the preceding sub-rule shall be preserved by the person for a period of six years.(8)A 'Nil' report shall be furnished even if no foreign contribution is received during a financial year.[Provided that where foreign contribution has not been received or utilised during a financial year, it shall not be required to enclose certificate from Chartered Accountant or income and expenditure statement or receipt and payment account or balance sheet with Form FC-4.] [Inserted by Notification No. G.S.R. 966(E), dated 14.12.2015 (w.e.f. 29.4.2011).]
