[Inpycon] Receiving funds from foreign sponsors

Kenneth Gonsalves lawgon at gmail.com
Mon Mar 14 13:19:51 CET 2011


On Mon, 2011-03-14 at 17:46 +0530, Ramdas S wrote:
> > perfectly legal and very common in the older days when banks were
> not
> > all that reliable. (there is also the black type of hawala). But the
> > point here is that the courts may take it as us trying to get
> foreign
> > contributions through the back door. Or are we going to do this
> without
> > any record? It is just not worth it. And authorities are very very
> > sticky when it comes to non profits. And the office bearers will get
> it
> > in the neck.
> >
> >
> X bills Y
> 
> Y bills Z
> 
> Z pays Y, Y pays service tax on the amount and pays X which's
> non-profit
> entity. Z becomes the sponsor. Bills are clean. Govt gets its money,
> they
> will be happy. CAs would sign on this and so would auditors. At least
> mine
> would. 

who is X here? IPSS?
-- 
regards
Kenneth Gonsalves
http://lawgon.livejournal.com/



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