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NRE Fund transfer. (ADV - Financial)

by genuinedealer, Thursday, April 23, 2015, 04:06 (3506 days ago)

There are certain groups of NRIs who wish to make donation to eligible trust in good faith...They can individually make donation from their NRE account by providing pay orders from the Indian Bank along with bank's letter confirming that particular pay order is issued from so and so NRE account. Pay Order will be in Indian Rupees that is converted from foreign currency.

Please note following :

1. One Pay Order for each separate account will be issued along with bank's letter.

2. It will be for Donation to the eligible trust, for which they issue donation letter ( Email copy and not hard copy as they are not residing in India )

3. A group of 8 / 10 persons would make donation at a time. Donation amount may be vary per pay order as per individual person's wish...but we will see that sizable accumulated donation would be possible i.e. around INR equivalent to USD 100,000 or so per transaction.

4. You need to provide donation receipt in the name of individual Donor.

5. You also need to provide me trust's KYC papers and bank that trust will be using to deposit such pay orders.

6. Every time different set of group will make donation to the trust. The person may donate second time too subject to his wish and availability of fund.

7. On and average 3 / 4 groups will make donation during the week...

Eligible trust means, a public trust duly registered with respective state having valid PAN and other Income Tax Registration Certificate with active in their objects.

Following are not eligible trust for donation from these group.

1. Newly formed trust that is not older than 3 years. 2. Private Trust 3. A trust, that does not carry any humanitarian activities. 4. A political trust. 5. A trust not registered with Income Tax. 6. Any Muslim Trust 7. A trust is registered in Jammu / Kashmir, Orrisha and Andman Nikobar. 8. A trust whose main object is not humanitarian. 9. A trust that carries business activities.

If you are interested, please provide me following set of documents...

1. Trust Registration Certificate 2. Trust PAN No. ( This is required to get pay order ) 3. Trust's bankers 4. PAN Card of Managing Trustee 5. Income Tax Registration certificate.

Ratio is 115% via angadiya uploading with MM (owner Rasik bhai).

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