[Inpycon] Receiving funds from foreign sponsors

[Noufal Ibrahim]

On Mon, Mar 14 2011, Ramdas S wrote:


[...]

>  I have spoken to my CA, and he has provided couple of loopholes, all
> we need to do is show, the foreign entity as a collaborator, and take
> the bill in name of a local company, and then raise an invoice back to
> the foreign entity from the company.  There would be the small element
> of 10.3% of service tax involved, which can be waived off under some
> clause, which has to be shown through some paper work. I think this
> should not be a problem.

Loopholes are not something I'd like to step into and I think I speak
for the majority of the people here. 

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