On 20 May 2012 09:54, Dhananjay Nene <dhananjay.nene@gmail.com> wrote:
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)
a. We can accept foreign currency sponsorships
No. We cannot. (There is a legal limitation)
b. Sponsorship grants to us may not be tax deductible in countries of the sponsor c. We may end up having to pay more tax on the amounts
Do not go down this path. Its way too complicated for non-profit institutions to do this.
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.
+1. Irrespective of whether they are Indian companies or of foreign origin, let them foot the bill and get equivalent sponsorship slab.
Regards, - sree