[Inpycon] Budget and sponsorship.

[Sreekanth S Rameshaiah]

On 20 May 2012 09:54, Dhananjay Nene <dhananjay.nene at gmail.com> wrote:

> Just realised my comments could lead to a whole bunch of questions on
> taxation and currency laws. So with an intent to specifically refocus on
> the impact of that on what we do (rather than the legal details
> themselves), here's my understanding (open for agreement or contesting)
>
> a. We can accept foreign currency sponsorships
>

No. We cannot. (There is a legal limitation)


> b. Sponsorship grants to us may not be tax deductible in countries of the
> sponsor
> c. We may end up having to pay more tax on the amounts
>

Do not go down this path. Its way too complicated for non-profit
institutions to do this.


> d. Its better to offset foreign currency expenditure (primarily speaker
> travel and any other associated speaker expenses) by a foreign third party
> directly footing the bill. For all other expenses, it really doesn't matter.
>
> +1. Irrespective of whether they are Indian companies or of foreign
origin, let them foot the bill and get equivalent sponsorship slab.

Regards,
- sree
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