FOREIGN CONTRIBUTIONS TO CHARITABLE TRUSTS IN INDIA: THE FUTURISTIC APPROACH

FOREIGN CONTRIBUTIONS TO CHARITABLE TRUSTS IN INDIA: THE FUTURISTIC APPROACH
Author(s):
Ms. Rani Adgulwar, Dr. Sukdeo Ingale
Keywords:
Amendment to FCRA, 2010; Charitable Trust; COVID 19 Pandemic; Foreign Contribution (Regulation) Act, 2010; Foreign Contributions.
Abstract
Charitable trusts have played an important role in providing support to the downtrodden classes in India. The working of Charitable Trusts becomes even more essential during times when crisis like pandemic hit humanity. In last few decades the foreign contributions are found as the most valuable leading support available to these charitable trusts. The Foreign Contribution (Regulation) Act, 2010 is a very crucial legislation regulating these contributions. On September 28, 2020, the Parliament has passed the Foreign Contribution (Regulation) Amendment Act, 2020 (Act No. 33 of 2020). The amendment has introduced many decisive changes to the FCRA. The amended Act controls individuals, organisations, and businesses’ receipt and the use of foreign contributions. Here, the term “foreign contribution” refers to the gift or transfer by a foreign source of any cash, security, or product (within a specific value range). The researchers have discussed the amendment made to the FCRA in 2020 and its futuristic impact on the Charitable Trusts especially during the pandemic.
Article Details
Unique Paper ID: 154399 Publication Volume & Issue: Volume 0, Issue no Page(s): 71 - 76
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