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Foreign money

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Guest

Guest (Querist)

05 April 2012 We are a pvt ltd co. One of our director is a foreigner who sends us money from abroad in Indian Rupees. What are the compliances we are required to do with RBI or our Bank or Government of India?

Ajay Mishra

Ajay Mishra (Expert)
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05 April 2012 Hi

What is the nature of money ?

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Guest

Guest (Querist)

10 April 2012 The director is sending for administration exps & running business.

Ajay Mishra

Ajay Mishra (Expert)
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10 April 2012 Hi

He will not be authorised to send money in this nature, because he is not a company. He can give a loan or send money as investment.

Guest

Guest (Querist)

10 April 2012 We are treating ut as loan but my qstn is any compliances??

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