Reporting of transfer of shares between resident and non-residents and vice-versa is to be made in Form FC-TRS. The Form FC-TRS should be submitted to the AD within 60 days from the date of receipt of consideration. The onus of submission of the Form-FC-TRS within the given time frame would be on the transferor/transferee resident in India.
Yes Form FC-TRS is compulsory to file.
For details please read Master Circular on FDI issued by RBI on July 01, 2010.
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