NRI partner in warehouse
This query is : Resolved
14 October 2022
Can an NRI become a partner of a firm providing warehousing services to Food Corporation of India? Warehousing services include fumigation and other serivces for storage of food grains etc. This NRI has citizenship in UK, but staying more than 180 days in India. Can he invest in the partnership firm? Will FEMA provisions be applicable in this case?
14 October 2022
Yes, a NRI can become partner in indian partnership act. There is no restriction on addmission of a NRI as a partner in indian partnership. Please refer to Master Circular no. 2/2009-10 of RBI on foreign investment made by a NRI in a partnership firm.
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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- TAN for Partnership
- GST ON DAMAGED GOODS
- Last year TDS Claim
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- Suggestions required for income tax filing-software (FY 2025-26)
- E way bill for tractors
- Free lancer income
- Long Term Service award taxability in hands of company
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
