Rbi approval for purchase of immovable property in usa
This query is : Resolved
17 February 2012
An Indian company wants to purchase a flat in USA for USD 0.8 Million (convertible INR 4 Crore) to open a liaison office.
The average annual turn over for last two financial years is Rs 653 Lakh and net worth of the company is Rs 320 lakh.
I would like to know :-
1.whether RBI approval is required for doing the above transaction.
2.whether loan can be taken in USA for purchase of aforesaid property.
3.What will be the mode/format for making application to RBI for it's approval.
4.Whether the above premises can be let out or used for any other purpose.
I will be grateful for earliest response
With Regards:-
Lawkush Prasad
The average annual turn over for last two financial years is Rs 653 Lakh and net worth of the company is Rs 320 lakh.
I would like to know :-
1.whether RBI approval is required for doing the above transaction.
2.whether loan can be taken in USA for purchase of aforesaid property.
3.What will be the mode/format for making application to RBI for it's approval.
4.Whether the above premises can be let out or used for any other purpose.
I will be grateful for earliest response
With Regards:-
Lawkush Prasad
18 February 2012
links is:
https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=7008&Mode=0
https://www.rbi.org.in/scripts/FAQAcquisition.aspx
https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=7008&Mode=0
https://www.rbi.org.in/scripts/FAQAcquisition.aspx
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
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR returnFY25-26
- ITR 2 Short Term gain & Long term gain
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
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
