Re: What is the currency for international funding ?

[Prakash Advani <prakash@xxxxxxxxxx>]

Dear Swaps,

There is no problem if you receive foreign exchange just go and deposit
it into your bank account. If you can register yourself as a software
developer then you can also claim tax benefits which means you don't pay
any taxes!

I'm not sure about the money order thing, but cheques, Wire Transfers,
Demand Drafts are no problems with all the banks.

Regards
Prakash

SWAPS wrote:
> 
> Hi,
>   I had sent out the following question to the project coordinator of one of
> the  monetary, web based OSS projects (like sourceXchange.com, cosource.com)
> and got the following reply.
> My question to the list is: Can a person in India receive a MO in foreign
> currency and deposit it in their ordinary account ? If not then can we request
> for a policy change by the government to allow such micro transactions in
> foreign currency ?
> Reasons:
> 1) This is going to become a viable alternative to many OSS developers who
> would like to work on projects without travelling abroad.
> 2) The developing nations can generate lot of income through such means.
> 3) This will be a part of the e-commerce system.
> 
> Thanks
> -swaps
> 
> <attachment>
> 
> Great question.
> 
> Our current plan is to use US Post international money orders. Do you know
> if this will work for you, or do you have any suggestions?
> 
> Thanks!
> Bernie Thompson
> cosource.com

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Prakash Advani 			http://www.yoom.com/prakash	
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