[Inpycon] Receiving funds from foreign sponsors

[satyaakam goswami]

 On Wed, Mar 16, 2011 at 1:23 PM, Sreekanth S Rameshaiah <sree at mahiti.org>wrote:

>
>
> 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.
>

Prior permission (PP)  looks like the way out this according to my
understanding one time clearance from Ministry of home affairs ( FCRA dept)

this is a good thing to have have , when we apply for FCRA certificate in
long run.

for FCRA application we will be needing Balance sheets of last three years .
please add if all the papers like articles of association or anything else i
am missing ....

let me know the consensus i can start work for both PP and FCRA
certification process.

-Satya
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