FCTRS
This query is : Resolved
Megha Shah
(Querist)
16 October 2010
Hi Friends,
there is transfer of shares from resident to non resident.
Procedure is to file FCTRS with AD, den
1. who is responsible for filing FCTRS with AD....Transferor, Transfree or the company?
2. Is FIRC compulsory?
Regards,
Megha Shah
there is transfer of shares from resident to non resident.
Procedure is to file FCTRS with AD, den
1. who is responsible for filing FCTRS with AD....Transferor, Transfree or the company?
2. Is FIRC compulsory?
Regards,
Megha Shah
Ajay Mishra
(Expert)
18 October 2010
Hi
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.
Regards
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.
Regards
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