To Award Scholarships to Meritorious National and International Students

Endowments

Procedure for Foreign Contributions

A) Document to be given by the Foreign Contributors


1. Covering letter from the proposed contributor giving personal details, income tax number, amount of contribution/donation and the specified purpose for contribution/donation (covering letter format attached). Only draft or electronic transfer of amount accepted.
2. Documents to be submitted (self attested) with the letter:
  I. Copy of Passport
  II. Copy of Incorporation Certificate
  III. Copy of Tax Identification Number/PAN/Social Security Number

B) Acceptance of Contribution/Donation, Deposit of Contribution/Donation


1. Covering letter from the donor with personal details, income tax number, amount of contribution/donation and the specified purpose for contribution/donation in format given to be verified at Symbiosis.
2. If everything is in order, Symbiosis will intimate to the prospective donor, the details of Bank Account and other data necessary for remittance of donation.
3. On receipt of donation, Symbiosis will acknowledge the remittance

C) Procedure to be followed by Symbiosis


1. All transactions shall be through the Symbiosis account only. Keep a copy of remittance certificates.
2. Pending utilization money in the bank shall be in the form of fixed deposited linked with FCRA bank account.
3. Within nine months ( 1st April to 31st March ) of the end of financial year ( 31st December of each year) file separately audited account of FCRA receipt and payment audited by Chartered Accountant in the following forms:
  I. FC-6 for regular remittances
  II. FC-7 for donation by way of articles
  III. FC-8 for gifts by way of foreign securities
4. The records have to be maintained for 6+1 year.
  NAME OF BANK- STATE BANK OF INDIA
  BRANCH- DECCAN GYMKHANA, PMT BUILDING, PUNE- 411004
  A/C NUMBER- SYMBIOSIS
  A/C NUMBER- 31002237176
  SWIFT CODE- SBININBB218
  IFS CODE- SBIN0001110
  MICR CODE- 411002003