Forex Transaction related-Remittance

This query is : Resolved

VIJAY (Querist)
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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?

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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02 October 2008 What purpose it is routed to X is not mentioned.

VIJAY

VIJAY (Querist)
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03 October 2008 Hi S.Srinivasaraghavan,

Purpose might be like "Sales of IT solution software"

Thanks
Vijay

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