[Inpycon] Receiving funds from foreign sponsors

[Sreekanth S Rameshaiah]

On 14 March 2011 10:02, satyaakam goswami <satyaakam at gmail.com> wrote:

> On Mon, Mar 14, 2011 at 9:45 AM, Sreekanth S Rameshaiah <sree at 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). Also, you need this approval for every unique foreign currency donor
contribution.

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.

Regards,
- sree
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