FEMA/ Income tax
This query is : Resolved
05 July 2009
can an indian co. bill to an indian co. in dollars in india itself ?
And the payment is made by the purchasing Co. in RS. to the selling companies bank but in accounts it is converted into dollars at tht days exchange rate.
And can we have foreign exchange revaluations on such dollars at the year end ?
Can a transaction be routed this way.
Pls tell me with reference to relevant sections of any law/act.
And the payment is made by the purchasing Co. in RS. to the selling companies bank but in accounts it is converted into dollars at tht days exchange rate.
And can we have foreign exchange revaluations on such dollars at the year end ?
Can a transaction be routed this way.
Pls tell me with reference to relevant sections of any law/act.
05 July 2009
An indian company cannot bill to another indian company in dollars.
If you are billing to indian company then you have to bill in rupees only. If you see Fema the exporter has to bill to the importer in which currency he is going to receive.
If you are billing to indian company then you have to bill in rupees only. If you see Fema the exporter has to bill to the importer in which currency he is going to receive.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Unanswered Queries
- Reopen of assessment proceeding
- Is any professional CA is here please reply
- EPF FULL & FINAL RULES IN 2026
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Experts need help
- Putting a heading on received mail
- Rental income gst and it purpose
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
