<br><br><div class="gmail_quote">On Mon, May 21, 2012 at 11:43 AM, Sreekanth S Rameshaiah <span dir="ltr"><<a href="mailto:sree@mahiti.org" target="_blank">sree@mahiti.org</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">
<br><br><div class="gmail_quote"><div class="im">On 20 May 2012 09:54, Dhananjay Nene <span dir="ltr"><<a href="mailto:dhananjay.nene@gmail.com" target="_blank">dhananjay.nene@gmail.com</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">
Just realised my comments could lead to a whole bunch of questions on taxation and currency laws. So with an intent to specifically refocus on the impact of that on what we do (rather than the legal details themselves), here's my understanding (open for agreement or contesting)<div>
<br></div><div>a. We can accept foreign currency sponsorships</div></blockquote></div><div><br>No. We cannot. (There is a legal limitation)<br> <br></div><div class="im"><blockquote class="gmail_quote" style="margin:0pt 0pt 0pt 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex">
<div>b. Sponsorship grants to us may not be tax deductible in countries of the sponsor</div><div>c. We may end up having to pay more tax on the amounts</div></blockquote></div><div><br>Do not go down this path. Its way too complicated for non-profit institutions to do this.<br>
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<div>d. Its better to offset foreign currency expenditure (primarily speaker travel and any other associated speaker expenses) by a foreign third party directly footing the bill. For all other expenses, it really doesn't matter.</div>
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</blockquote></div></div>+1. Irrespective of whether they are Indian companies or of foreign origin, let them foot the bill and get equivalent sponsorship slab.<br><br></blockquote><div>Ok. Given the various constraints will create a special slab for speaker sponsor and revert.</div>
<div> </div><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">Regards,<br>- sree<br>
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