Foreign contribution - self help group
Querist :
Anonymous
(Querist) 29 June 2010
This query is : Resolved
Kindly clarify on the following:
A self help group has accepted funds from a Society registered under Foreign Contribution Act, by way of microfinance.
The society is receiving foreign contribution.
1)Is the self help group eligble to accept it in the manner of purchase of assets (FArm Machineries)in its name?
2)or Should the self help group register under FCRA to get the funds in the form capital assets from an alredy registered soceity(under FERA)?
3)Can the registered socitey give the foreign contribution received by it in the form of micro finance to individuals?
4) will the answer if it is to given to a self help group (association of persons)?
Plz do clarify
