[Inpycon] Receiving funds from foreign sponsors

[॥ स्वक्ष ॥]

On Tue, Mar 15, 2011 at 14:42, Noufal Ibrahim <noufal at gmail.com> wrote:
>
> That would be nice but we'd sort of shift the responsibility of paying
> for the invited speakers to the sponsors and semi-wash our hands of it
> which might lead to complications later.

True that. Anyway, I asked and apparently a non-profit can open a
separate bank account and maintain it ONLY for donations from foreign
sponsors** with proper books of account. I'm not sure if this requires
80G status (or other formalities) so you may want to cross-check this
with the bank/CA.

** I'm assuming its similar to the NRI accounts that individuals are
allowed to open in Indian banks.

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vid ॥ http://svaksha.com ॥