The President has given his assent to the Foreign Contribution Regulation (Amendment) Act, 2020. The objective of the Amendment Act is to enhance transparency and accountability in receipt and utilization of foreign contribution. The Act prohibits “public servants” and “corporations owned or controlled by the government” from accepting funds from abroad. Reduces administration expenses of NGO from 50% to 20%, mandates Aadhaar details of the office-bearers of NGOs for registration.
from taxmann.com News https://ift.tt/3cEJTTv
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