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CS Executive · Economic, Commercial and Intellectual Property Laws · Law relating to Foreign Contribution Regulation

Ananya Society was granted an FCRA certificate. Which of the following correctly describes its duty on records under the Act?

The society must maintain, in the prescribed form and manner, an account of the foreign contribution it received and also a record of the manner in which that contribution was utilised. Both are mandatory under the Act.

  1. AKeep only the receipt account; utilisation records are optional
  2. BKeep records only if the contribution exceeds a fixed amount
  3. CKeep records only when the Government demands them
  4. DMaintain, in the prescribed form and manner, an account of foreign contribution received and a record of how it was utilisedCorrect

Explanation

Section 19 requires every certificate holder or person given prior approval to maintain, in the prescribed form and manner, both an account of foreign contribution received and a record of its utilisation. Maintaining only receipts is incomplete.

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