Foreign contribution definitions extend to indirect transfers, income, and interest while excluding ordinary commercial receipts. Foreign contribution includes foreign-source transfers of qualifying articles, currency and securities, indirect onward transfers, accrued interest and ... Summary
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Foreign contribution definitions extend to indirect transfers, income, and interest while excluding ordinary commercial receipts.
Foreign contribution includes foreign-source transfers of qualifying articles, currency and securities, indirect onward transfers, accrued interest and income derived from such funds. Ordinary-course fees and consideration for goods or services, including educational fees from foreign students, are excluded. Foreign source includes foreign governments, foreign companies, multinational corporations, designated foreign-controlled Indian companies, overseas associations, trusts, trade unions and foreign citizens, subject to the applicable foreign-investment-limit exclusion. Foreign hospitality includes non-casual foreign-funded overseas travel, accommodation, transport or medical treatment.
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