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Fema- foreign remittance- fc trs

This query is : Resolved 
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(Querist)
31 August 2011
There is a transfer of shares of an indian company from resident to non- resident.
The NRI gave the consideration for transfer through India Bank and in India Rupees.

How should we file FC TRS form in such a case as there is no foreign remittance certificate issued by the bank.
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VISHRUT

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VISHRUT (Expert)
31 August 2011 In my opinion in such case certificate will be required to issued by the tranfaree only that is the resident previously owning the shares.
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CA. Anuj Gupta

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CA. Anuj Gupta (Expert)
16 October 2011 Kanchan, from your query it looks like that NRI has invested on NON-Repatriation basis.

Kindly confirm

Anuj
+91-9810106211
femaquery@gmail.com
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