Notes to accounts- foreign exchange transaction disclosure
This query is : Resolved
24 November 2011
Kindly clarify whether purchase of an Indian security from a foreign holder for which the transaction is settled in the respective foreign currency.
CA Navin Jain
(Expert)
24 November 2011
DELETED..........................
24 November 2011
No need to disclose unless the business of the company is trading in shares and securities. Please refer clause C of Companies (Disclosure of Particulars in the Report of Board of Directors) Rules ,1988.
Message likes :
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24 November 2011
Thank you very much Chackrapani Sir,
Wont the outflow be covered under sub-clause (g) total foreign exchange used and earned?
Regards & Thanks in advance
Wont the outflow be covered under sub-clause (g) total foreign exchange used and earned?
Regards & Thanks in advance
CA. Anuj Gupta
(Expert)
26 November 2011
I sincerely hope Form FCTRS has been filed and pricing guidelines as per FEMA and Incoem TAx Act have been followed.
Anuj
+91-9810106211
femaquery@gmail.com
Anuj
+91-9810106211
femaquery@gmail.com
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