FEMA
This query is : Resolved
suparna k s
(Querist)
06 October 2009
Dear All,
Rent is paid to the director, a non-resident. The Foreign company is being debited for the same amount and the Indian co is claiming the reimbursement of rent paid to the director.
Kindly tell me whether fema provisions are applicable. If so what are the procedures to be followed?
Rent is paid to the director, a non-resident. The Foreign company is being debited for the same amount and the Indian co is claiming the reimbursement of rent paid to the director.
Kindly tell me whether fema provisions are applicable. If so what are the procedures to be followed?
CA. B.SRINIVASULU
(Expert)
06 October 2009
You have to deduct tds as per section 195 or Section 92C DTAA agreements.
Obtain 15CB certificate from CA
Upload 15CA certificate in income tax website
Generated acknoledgement and 15CB and 15CA has to be submitted to Banks for payment.
You should not adjust in the books of accounts without the permission of rbi.
Obtain 15CB certificate from CA
Upload 15CA certificate in income tax website
Generated acknoledgement and 15CB and 15CA has to be submitted to Banks for payment.
You should not adjust in the books of accounts without the permission of rbi.
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