Explain the relevant provisions for giving an intimation of receiving foreign funds from relatives under Foreign Contribution (Regulation) Amendment Rules, 2022.

The Ministry of Home Affairs has published the Foreign Contribution (Regulation) Amendment Rules, 2022 to further amend the Foreign Contribution (Regulation) Rules, 2011 which has come into force on the date of their publication in the Official Gazette i.e. 01-07-2022. Through this amendment, Rule 6 deals with an intimation of receiving foreign funds from relatives, which is amended to provide that the time period to notify the government regarding the overseas transaction has been extended from 30 days to three months. Accordingly, any person receiving a foreign contribution in excess of ₹ 10 lakh or equivalent thereto in a financial year from any of his relatives shall inform the Central government (details of funds) in FORM FC-1 within three months from the receipt of such contribution.