Which account funds to be deposited on sale of FCRA Property
Socio Research & Reform Foundation
Dear Dialogue Members
Greetings!
Following query received from Mr. Dhruv Mankad on the “Which account funds to be deposited on sale of FCRA Property”. Kindly provide your responses to resolve their query.
Which account funds to be deposited on sale of FCRA Property
Posted on June 28, 2025 by SRRF
Dear Members,
Require your opinion:
If a FCRA certificate holding Society-cum-Trust has obtained permission from the Charity Commissioner to sell its immovable property which was purchased 20 years back from its Foreign funds. Now, the authorized buyer which is a LLP company or a Trust wants to electronically transfer the amount agreed upon.
QUESTIONS:
1. Which FC account should the buyer be advised to transfer to: the main account at SBI, NDMB or its FC utilization account (from which the immovable property was…..(click to read more)
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Socio Research & Reform Foundation
Dear Dialogue Members
Greetings!
Following responses received on the topic “Which account funds to be deposited on sale of FCRA Property”
L
N Sharma says:
June 30, 2025 at 5:41
am
AS per the FCRA rule, the FCRA immovable property sold amount
can be deposited into FC utilization account.
HOME | REPLY
Vijay
Pratap Singh says:
June 28, 2025 at 1:56
pm
you may received the funds against sale of property under FC
Utilization bank account.
Socio Research & Reform Foundation
Dear Dialogue Members
Greetings!
Following responses received on the topic “Which account funds to be deposited on sale of FCRA Property”
Subhash Mittal says:
There is no exact clarity where funds generated from sale of asset should be transferred. Till 2011, since there was no Utilisation account, we had to transfer all funds to Designated account only. After 2020, when FCRA rules now require that designated account would be with SBI Parliament Street Branch only, we are left little choice, but requesting SBI to allow the funds to be deposited in designated account. However if SBI refuses (it sometimes insists that only funds from outside India can be rec’d in this account), my suugestion…..(click to read more)
Dhruv says:
Thanks. Makes sense.
