NRI as partner
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 November 2009
Mr X & Y who are resident in India wants to enter into partnership with
M & N who are NRI to do business of sale of flats constructed by them.
Whether
1. This partnership & business is possible.
2.If yes,is it subject to any special condition/s
3.Whether NRI partners should have PAN and in future they have to file ITR's
M & N who are NRI to do business of sale of flats constructed by them.
Whether
1. This partnership & business is possible.
2.If yes,is it subject to any special condition/s
3.Whether NRI partners should have PAN and in future they have to file ITR's
27 November 2009
1) Only Non Resident INDIAN can enter into partnership.No other Non residents. Asthe entity is Indian, there may be sectoral caps for foreign investment in your line of business. See FIPB website for details.
2) Sectoral caps only. This activity is not in a negative list. NRI is only restricted from buying flats or property to sell. However, construction business is usually permitted.
3)NRI will need a PAN if he intends investing in India.
2) Sectoral caps only. This activity is not in a negative list. NRI is only restricted from buying flats or property to sell. However, construction business is usually permitted.
3)NRI will need a PAN if he intends investing in India.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
