Amount received from foreign

This query is : Resolved

vishal sikariya (Querist)
Follow

18 September 2014 Dear Sir

can private company registered under company act 1956 takes non refundable (non repatriation basis)amount from a foreign citizen (not(NRI /PIO)/OCB) without bearing any interest
and Company is not issuing /allotting any type of security or capital

if yes
what is reporting requirement of RBI in this case

Sir Pls Advise me i am very confused to sole this matter

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

18 September 2014 you should have:

1. reported the receipt of money to RBI

2. allot shares within 6 months of receipt of funds and then report to RBI through form FC-GPR

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

18 September 2014 you should have:

1. reported the receipt of money to RBI

2. allot shares within 6 months of receipt of funds and then report to RBI through form FC-GPR

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

ASHOK B GONDKAR

rana andcompany

Raj Jaggi

SHRI HARIRAO

Raviraj ponkshe

Subscribe Now

Amount received from foreign

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

GST CONSULTANCY

Accountant

Senior Executive

Manager- Finance and Compliance

CA Final