Overseas direct investement
This query is : Resolved
28 December 2011
Hi!
We (NGO registered under Society Act) are going to make a investment of Euro 50000/- (approx.10%) of total estimated cost of a project (Production of documentory film) in france.
I would like to confirm that whether we require to submit ODI form with our bank or not. If yes, then whether we have to submit it through "Automatic Route" or "Approval Route" and list of documents required to be attached.
We (NGO registered under Society Act) are going to make a investment of Euro 50000/- (approx.10%) of total estimated cost of a project (Production of documentory film) in france.
I would like to confirm that whether we require to submit ODI form with our bank or not. If yes, then whether we have to submit it through "Automatic Route" or "Approval Route" and list of documents required to be attached.
CA. Anuj Gupta
(Expert)
30 December 2011
ODI means investment in overseas entity. Herein you are sharing the cost of production of documentary and not making investment .
TDS may be applicable on said payment.
Anuj
+91-9810106211
femaquery@gmail.com
TDS may be applicable on said payment.
Anuj
+91-9810106211
femaquery@gmail.com
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