Fwd: Travel Grant

[Jithin Sam Varghese]

---------- Forwarded message ----------
From: "Office of Alumni Affairs" <o...@iitm.ac.in>
Date: 24-Oct-2013 11:40 AM
Subject: Travel Grant
To: "j.samv...@gmail.com" <j.samv...@gmail.com>
Cc:

Jithin,

 

I have asked Mani to get your Travel Grant letter ready. You can collect it from him and then submit it at the accounts section and collect your check. It should be ready today, please follow up with him.

 

In the meanwhile I request all your team members to sign up the pledge form here: http://www.gjfund.iitm.ac.in/members/register/#move1 (if you select the 'Student' radio button you specify a pledge amount).

 

The Travel Grant is funded by our generous alumni and to sustain this wonderful program we request the beneficiaries also to give back. This will enable us to assist future students and your juniors too.

 

Thanks,

Kamala

[Jithin Sam Varghese]

Guys,

We can collect the cash on Monday from Ms. Pushpa from IC&SR in the form of a cheque of Rs. 5lac. It is being sanctioned in my name. So I will give my cheque book to one of you who can write off the cheque amounts. Apart from that, I don't know how much will be the transfer commission for

1. Getting the money into my account (one of my friends told me, but he is not sure)

2. Transferring 5lac/13 to all of you.

Jithin

[raghav tandon]

Hi,

Can we not get separate cheques? A single cheque of a bigger amount may have tax issues surrounding it. A part of the amount may get deducted as TDS. Though I am not completely sure, but amounts larger than 2L have some tax implications.

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[Jithin Sam Varghese]

I will ask them for it. But the thing was that we applied for the funds as a group. I will send a letter to Nag asking him to issue separate cheques, not sure of the success though. 

[PRITHIN S KURUVILA]

Now that we have atleast got this much, let it be like this. Jithin can distribute the money once he gets it. 

@Jithin - It might be better and easier if you can do the distribution of money online.

On Fri, Oct 25, 2013 at 1:01 PM, raghav tandon <raghavt...@gmail.com> wrote:

--

Prithin S. Kuruvila
Final Year Undergraduate | Dual Degree in Infrastructure

Department of Civil Engineering
I.I.T. Madras
Ph. No : +91 99629 69149

Email id : prita...@gmail.com, prithins...@gmail.com

[PRITHIN S KURUVILA]

Plus, I wont get my cash if its done individually :( (which is an advantage for you all :P) Coz I have already used my Travel Grant!

[raghav tandon]

I dont mind the proposed method, but if the tax implications arise, each of us may lose around 3K easily which we will have to apply by filing IT documents. If Nag is fine with separate cheques, that will be easier, else Jithin can give us the cash.

On Fri, Oct 25, 2013 at 1:04 PM, PRITHIN S KURUVILA <prita...@gmail.com> wrote:

[raghav tandon]

Hahahaha! That is one more reason to get cash individually, what say people??? ;) ;)

[PRITHIN S KURUVILA]

Now since the big old men of the group have voiced their opinions, lets start asking the kids what they think :P Starting off, ohh wait Aunty :P

[raghav tandon]

Hahaha! Prisku you owe us a treat for all the cash you are making!! :D

[PRITHIN S KURUVILA]

Yup, I do! :P

[Rahul Dcunha]

I don't think we'll have tax issues cause it's an educational institution giving a student.You could ask SBI before cashing in the cheque ?

[raghav tandon]

For that we need to fill in a few forms to get that educational rebate. In case a tax is cut, it can be refunded but only in April next year and we will again have to fill in a few forms :/ But yeah, it will be better to talk to SBI manager about this. He will have a clearer picture

[Urvi N. Shah]

I don't think there will be tax deduction because this isn't income na. It is a transfer payment so when Jithin receives the amount, he shows it as educational fund transfer as opposed to taxable income.

So, once he deposits the cheque and the money gets credited to his account, he can just write 12 cheques in our names. The exact amount is 38461.5. Round it off either way.

Urvi N Shah
M.A.
IIT Madras

[PRITHIN S KURUVILA]

@Jithin - Did you get the cheque? Then, credit it to your account.

[Neha Nathan]

@Jithin: Have you collected the cheque?

Regards

Neha Nathan

Final year Undergraduate

Department of Chemical Engineering

IIT Madras

[Jithin Sam Varghese]

I submitted all docs they required. 

1. Letter of authorization

2. Copy of USLS Certificate. 

It seems now that any amount > 5lacs needs Registrar approval. That will take another 10 days according to the IC&SR staff. 

[Sanchit Mehta]

Oh! Jithin.. we will get the money no da? Or is there scope of it not coming?

p.s. Our amount is 5Lacs exact.. so we do not need the approval! :P :P

---
Sanchit Mehta

Undergraduate Student
Department of Metallurgical & Materials Engg.
Indian Institute of Technology Madras
Mobile +919962266543