Can resident indian borrow money from his foreign friend (not NRI) ?
This query is : Resolved
CA Abhishek Singh
(Querist)
04 June 2023
one of my client is going through financial problem and one of his foreign friend ( citizen and resident of UAE) is ready to help him ?
amount is 40 lacs ?
my question is can he take 40 lacs in his account as loan from friend ?
if not then how can he take this amount ?
amount is 40 lacs ?
my question is can he take 40 lacs in his account as loan from friend ?
if not then how can he take this amount ?
CA R SEETHARAMAN
(Expert)
04 June 2023
See the link for more details.
https://www.fdi.finance/blog/borrowing-from-a-foreign-national-or-non-resident-indian/
https://www.fdi.finance/blog/borrowing-from-a-foreign-national-or-non-resident-indian/
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR9 Annual Return
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Ito add credit side of bank
- Employee secondment
- Applicability of tax on invoice
- Import of Capital Machine
- LLP audit and disclosure
- Capital gain on commercial property and investment in residential property
- Gift to nri relatives resides in usa
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
