- An association permitted to accept foreign contribution is required under law to maintain separate set of accounts and records exclusively for the foreign contribution received and utilized;
- Submit an annual return, duly certified by a Chartered Accountant;
- Giving details of the receipt and purpose- wise utilization of the foreign contribution.
TIME PERIOD OF FILING ANNUAL RETURN
- The return is to be filed for every financial year (1st April to 31st March) within a period of nine months from the closure of the year i.e. by 31st December each year.
- Submission of a 'Nil' return, even if there is no receipt/utilization of foreign contribution during the year, is mandatory.
- The return is to be submitted, in prescribed Form FC - 6, duly accompanied with:
- balance sheet and
- statement of receipt and payment,
which is certified by a Chartered Accountant
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