Foreign exchange refund
This query is : Open
Raman Wadhwa
(Querist)
05 March 2016
We have two entities one in India and another in Bangladesh. one common client in France transferred money to India whereas it belonged to Bangladesh.
Is it allowed to transfer this money from India to Bangladesh directly as per FEMA regulations .
CA R SEETHARAMAN
(Expert)
05 March 2016
It is an allowed transfer contact your bank with documents.
Raman Wadhwa
(Querist)
06 March 2016
thank Sir...We contacted bank but they said that we can return money only to the person who sent it ... Also they mentioned that you cannot set it off against outstanding of our inter company as our company is into business of provision of services and not goods.
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