[Inpycon] Receiving funds from foreign sponsors

[Kenneth Gonsalves]

On Mon, 2011-03-14 at 17:25 +0530, Ramdas S wrote:
>  I have spoken to my CA, and he has provided couple of loopholes, all
> we
> need to do is show, the foreign entity as a collaborator, and take the
> bill
> in name of a local company, and then raise an invoice back to the
> foreign
> entity from the company.
>  There would be the small element of 10.3% of service tax involved,
> which
> can be waived off under some clause, which has to be shown through
> some
> paper work. I think this should not be a problem. 

there is a word for this - hawala. As our only big expense is going to
be for foreign delegates, this should solve the problem. We have local
money for everything else (I personally am not very keen on visiting our
country's jails - although they seem to be a popular location now a
days)
-- 
regards
Kenneth Gonsalves
http://lawgon.livejournal.com/