What is the procedure for filing of FC -3 returns ?
A.20. An association permitted to accept foreign contribution is required under law to maintain separate set of accounts and records exclusively for the foreign contribution received and utilized and submit an annual return, duly certifed by a Chartered Accountant, giving details of the receipt and purpose-wise utilization of the foreign contribution. The return is to be filed for every financial year (1st April to 31st March) within a period of four months from the closure of the year i.e. by 31st July of the year. Submission of even a ‘Nil’ return if there is no receipt/utilization of foreign contribution during the year, is mandatory, under law. The return is to be submitted, in prescribed Form FC–3, duly accompanied with the balance sheet and statement of receipt and payment, which is certifed by a Chartered Accountant. The form is available on MHA’s website – http://mha.nic.in/ fore.
