A NRI wants to bring money into India for investing in India. In relation to this my question is:-

1)Now i just wanted to know whether there is any maximum limit to such transfer to India.

2)What are the legal formalities that are required to be fulfilled as per RBI/ FEMA norms.

3)Also what are procedure as per Income Tax Act.

From where should i get these details i mean which books should i refer.

Kindly help me.

Thanks. :)

Dear sirs
is it possible for a resident in india to invest in & doing business outside india as per FEMA? is any conditions or restrictions for it kindly help me

Hello !!

One of my client is dealing with software business and they frequently go outside India for business purposes..for this purpose they buy Foreign currency to meet expenses there (from company only) At the time of buying they will issue a letter stating that "this currency will be used only for business purposes"..

However My Questions are:

1) Can an any employee use the same currency for his personal purpose ??? If so is he liable to repay the same to the company in Foreign Currency or in INR ???

2) If Company Receives the same in INR means will it leads to sale of Currency (Indirectly) ??? and treatment of Service tax claimed on it as input ??

3) Purchasing currency on behalf of employees and receives money will it leads to violation of FEMA Act ??

Note :
1. No Profit on sale of Currency has been made..
2. Company Doesn't have Registration for sale of Currency.. Kindly help me out

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