Foreign transaction
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 January 2013
if a company collected amount in India on behalf of foreign company,and it remitted those amount from its subsidiary (out side india). Is is acceptable under law if not what are the consequence it has to face?
CA. Anuj Gupta
(Expert)
10 February 2013
The same is not permitted under any law whether FEMA,service tax or income tax.
Anuj
Femaquery@gmail.com
Anuj
Femaquery@gmail.com
23 July 2013
You have to undergo the formalities for this transaction and the expert has correctly mentioned the law as applicable
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