Forex Transaction related-Remittance
This query is : Resolved
30 September 2008
Dear Sir/Madam,
We have one query-
If one scenario is there where X company which is an Indian Company has 100% shareholding registered company Y in UK/US/China etc. and the co. wants to raise an invoice somewhere mentioned above for some Software development purpose.
While receiving payment from Party if Y company receives the payt. and then if the same is being routed to X conmpany.
What will be the implication? As per Double avoidance treaty, what is the treatment?
We have one query-
If one scenario is there where X company which is an Indian Company has 100% shareholding registered company Y in UK/US/China etc. and the co. wants to raise an invoice somewhere mentioned above for some Software development purpose.
While receiving payment from Party if Y company receives the payt. and then if the same is being routed to X conmpany.
What will be the implication? As per Double avoidance treaty, what is the treatment?
02 October 2008
What purpose it is routed to X is not mentioned.
03 October 2008
Hi S.Srinivasaraghavan,
Purpose might be like "Sales of IT solution software"
Thanks
Vijay
Purpose might be like "Sales of IT solution software"
Thanks
Vijay
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