Fema- foreign remittance- fc trs
This query is : Resolved
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.
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.
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.
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
Kindly confirm
Anuj
+91-9810106211
femaquery@gmail.com
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