Standards & Norms

FCRA Public Notice on TDS
Volume 17 - Issue 9
January 2025

FCRA Public Notice on TDS

 

The ministry of Home Affairs (MHA) recently issued a public notice addressing critical issues related to the treatment of the Tax deducted at source (TDS) under the Foreign Contribution Regulation Act (FCRA). This notice addresses key concerns regarding income tax refunds involving both local funds and foreign contribution (FC).

- Rules for handling TDS refunds involving both local and foreign contribution funds.
- Guidelines on transferring funds between FCRA and non-FCRA accounts without violating section 17 of the Act.
- Recommendations for accounting treatment of TDS deductions and refunds, including their reporting in Form FC-4.

This update is crucial for organizations managing foreign contributions and aims to resolve ambiguities while ensuring compliance with FCRA Regulations.

Click on the link to get the detailed analysis:
 

Download
Newsletter Subscription Subscribe
SMS Alert Service Subscription Subscribe
New Sign Up
Member Login
  • Already have an account? Login!