[Inpycon] Receiving funds from foreign sponsors

[Sreekanth S Rameshaiah]

On 16 March 2011 13:18, ॥ स्वक्ष ॥ <vid at svaksha.com> wrote:

> 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.
>
>
This is true and mandatory. But can be done only after FCRA clearance or
prior permission is received.

- sree

-- 
Sreekanth S Rameshaiah
Executive Director
Mahiti Infotech Pvt. Ltd.
"OpenSpace", #583,
Vyalikaval HBCS Layout,
Nagawara, Veerannapalya,
Bangalore, India - 560043
Phone:  +91 80 4343 7373
Mobile:  +91 98455 12611
www.mahiti.org
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