Details of Assets & Properties created out of Foreign Contributions in FC-4
Every FCRA registered organization needs to report the details of FCRA assets purchased during the financial year under para 3(b) of Form FC-4. However, with effect from 22-Sep-2023, the FCR Amendment Rule has inserted new clause as para 3(ba) and 3(bb) after the para 3(b) in FC-4.
Under para 3(ba), the details of movable assets created out of foreign contribution and under para 3(bb), the details of immovable properties acquired out of foreign contribution as on 31st March of Financial Year has to be provided.
In this issue, we discuss the summary of new requirement and recommendations for finalization of FC Statements. For details, please read Standard & Norms, Volume 16, Issue 7.