FEMA - CA certificate for FC-GPR Part A - Urgent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 January 2011
Dear All,
As per Para 9 B of Schedule I to Notification No. FEMA 20/2000-RB dated May 3, 2000 "A certificate from Statutory Auditors or Chartered Accountant indicating the manner of arriving at the price of shares issued to the persons resident outside India is required."
Now the question is "If company is issuing the share at Face Value than also this Certificate is necessory?"
Regds
As per Para 9 B of Schedule I to Notification No. FEMA 20/2000-RB dated May 3, 2000 "A certificate from Statutory Auditors or Chartered Accountant indicating the manner of arriving at the price of shares issued to the persons resident outside India is required."
Now the question is "If company is issuing the share at Face Value than also this Certificate is necessory?"
Regds
CA Sanat Pyne
(Expert)
13 January 2011
A certificate from Statutory Auditors or Chartered Accountant indicating the manner of arriving at the price of shares issued to the persons resident outside India is required even if company is issuing the share at Face Value .
Message likes :
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13 January 2011
Valuation should be made under the "discounted cash flow method" as prescribed by the FEMA regulations.
Message likes :
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CA. Anuj Gupta
(Expert)
08 March 2011
The answer is YES.
Anuj
0-9810106211
Anuj
0-9810106211
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