Amendments in FC4 (wef 1-1-2025)
Socio Research & Reform Foundation
FCRA
Amendments in FC4 (wef 1-1-2025)
FCRA Form FC4 has been amended vide FCRA Amendment Rules 2024. These amendments are summarized below.
· Unspent Admin Expenses: If an entity has not spent allowable 20% of the FCRA funds received in a year, unspent part can be carried forward to next year. Thus say, an Association has received Rs 1 crore as FC receipts during FY 2024-25 and therefore at the maximum is allowed to spend Rs 20 lakh under Admin Heads. If it spends, say Rs 15 lakh only during FY 2024-25, new rules enable it to carry forward Rs 5 lakh to next year (FY 2025-26).
· Details of Chartered Accountant certifying FC4: Now details of chartered accountant who provides FC4 certificate are to be given in FC4. Details include Name, address, Member Registration No., Email address, Date of Issue of certificate, In case any violations pointed out then these need to be specified in the FC4.
· Chartered Accountant Certificate format amended: Now CA certificate needs to state that there are no violations, and in case there are violations, then these violations need to be specified.
· TDS refund rec’d in non-FCRA Bank A/c can be transferred to FCRA Bank A/c: FCRA authorities have vide Public Notice dt. 31/12/2024 have allowed to transfer any TDS refund received in non-FCRA account to be deposited in FCRA Bank a/c. In case the refund covers both FCRA….(click to read more)
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Ramanuj Maurya
Coordinator
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