On Mon, Mar 14, 2011 at 10:16 AM, Sreekanth S Rameshaiah <sree@mahiti.org>wrote:
On 14 March 2011 10:02, satyaakam goswami <satyaakam@gmail.com> wrote:
On Mon, Mar 14, 2011 at 9:45 AM, Sreekanth S Rameshaiah <sree@mahiti.org>wrote:
Dear All, The IPSS CANNOT receive foreign money. We do not have a specific permission under FCRA. It would be best if we get them to pay either the organizers (Pune team in this case, through any of their registered commercial entities) directly or we get them to pay vendors. If these options ( or something similar) are not possible, please drop the idea.
why do you think we should drop the idea ? , the conversations i had here in Delhi were also on same lines but looks like there is a provision to receive with a temporary certificate , i think we should pursue this since this will bite us again and again every year.
Its based on my 13 years of experience in FCRA.
:-)
Its not easy to get the the temporary license easily for organisations that do not have other income tax exemptions (with out using any short cut route).
so you agree that it is possible , i still do not know and definitely do have 13 years in FCRA :-) , so will dig more for info .
Also, you need this approval for every unique foreign currency donor contribution.
did not understand this part.
As you have already taken the lead in speaking to your auditor/ subject experts proceed with it. If community finds it worth it, then definitely proceed. We will wait for your feedback.
its not about lead its about my personal interest in knowing and learning about the system, yes ultimately it will benefit someone i do not know who or how yet but this is something i wanted to know and learn , looks like a good opportunity and cause. i have not spoken to any auditor so far , lets involve the auditor who handles IPSS accounts lets see what he has to say . -Satya