The Union Home Ministry has amended the Foreign Contribution (Regulation) Rules, 2011, asking NGOs receiving funds from abroad to submit details of their movable and immovable assets created out of those contributions.
According to the Ministry’s notification issued Monday, a copy of which is with ThePrint, the NGOs will have to include the description and value of all movable assets, as on the beginning of the financial year, acquired during the financial year and disposed of during the financial year.
Details of their value according to the balance sheet at the end of the financial year will also have to be given.
The new Rules also sought details of immovable assets, details including the land or building size, location and value will have to be included in Form FC-4 (annual return). “The new Rules are meant for transparency in the working of NGOs and make them more accountable,†said an official.
The FCRA licence of around 6,000 organisations, including Oxfam India Trust, ceased to exist from January 1, 2022, over “violations observed†in their functioning. Renewal request of Oxfam is rejected.
