Rule 8 - MAINTENANCE OF ACCOUNTS - Foreign Contribution (Regulation) Rules, 1976

8. MAINTENANCE OF ACCOUNTS.- 1. A separate set of accounts and records shall be maintained, exclusively for foreign contribution received and utilised,- a. in Form FC-6, where the foreign contribution relates only to articles as referred to in item (i) of sub-clause (c) of clause (1) of section 2; b. in the cash book and ledger account on double entry basis, where the foreign contribution relates to currency received and utilised, and a separate bank account shall be maintained in respect of such contribution; c. in Form FC-7,where the foreign contribution relates to foreign securities. 2. Every account specified in sub-rule (1) shall be maintained on an yearly basis, commencing on the 1st day of April each year and every such yearly account, duly certified by a chartered accountant in Form 2FC-3 along with a balance-sheet and statement of receipt and payment, shall be furnished, in duplicate, to the Secretary to the Government of India, in the Ministry of Home Affairs, New Delhi 1 [within nine months] of the closure of the year. Explanation: In this rule, "chartered accountant" has the meaning assigned to it in the Chartered Accountants Act, 1949 (38 of 1949). ****************** Notes : 1. For the words "within four months", the words "within nine months" has been substituted vide Notification No. G.S.R. 728(E) dated 10/10/2008