I have a quick query regarding FCRA. Your response is highly appreciated.
Situation:
I represent a volunteer group called Asha for education [“Asha”] (http://www.ashanet.org) that does genuine work in the field of education. We have an FCRA account and used these funds for some building construction in Kanpur for a "school on human values" that ran for a period of time. This school was a 'unit' of Asha itself. (not a different NGO) These funds have been fully utilized more than 10 yrs ago and the 'use certificate' has been audited, submitted and closed.
The people behind the "school on human values" have now formed a separate trust (i.e. separate from Asha) and Asha wishes to let them keep ("donate") the said infrastructure to them to continue their activities independently.
Query:
Is it required for this new trust (different from Asha) to also have an FCRA account to be able to take/keep ownership of these immovable assets that were originally funded using foreign funds? The trust will not be receiving any further foreign funds from Asha.
Thanks very much,
Shriram, Pune.
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If yes why?
If no why?
For example; The firm of auditors are
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ANNEXURE
EXTRACTS FROM THE HINDU SUCCESSION ACT, 1956
(30 OF 1956)
23. Where a Hindu intestate has left surviving him or her both male and female heirs specified in class I of the Schedule and his or her property includes a dwelling-house wholly occupied by members of his or her family, then, notwithstanding anything contained in this Act, the right of any such female heir to claim partition of the dwelling-house shall not arise until the male heirs choose to divide their respective shares therein; but the female heir shall
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Provided that where such female heir is a daughter, she shall be entitled to a right of residence in the dwelling house only if she is unmarried or has been deserted by or has separated from her husband or is a widow.
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