NEW DELHI: Individuals receiving personal gift valued up to Rs 1 lakh need not inform the Government about it anymore, the Home Ministry said on Monday as it amended Foreign Contribution (Regulation) Act.
Earlier, the threshold value was Rs 25,000, as per the market value of the gift item in India.
The Centre amended the rules governing the Foreign Contribution (Regulation) Act, 2011, and notified this change alongside some other modifications.
According to the amended rules, in case of emergent medical aid needed during a visit abroad, the acceptance of foreign hospitality has to be intimated to the Government within a month of such receipt. (AGENCIES)
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