Regarding DTAA and relevant matters.
This query is : Resolved
02 December 2008
Hi All,
I will be highly thankful on advising me on the following matter.
Facts :
My Client is a Pvt. Ltd. Company. The Directors have decided to open a new company whose main object will be to export the glass material, Timber, hand crafts and other goods from India to Italy. My Client has business contacts in Italy. As One of their Clients residing in Italy has offer 50 : 50 Basis Partnership in the new company. So, they have decided to open this new company in partnership (Shareholding) on 50:50 Basis. The registered office will be in India. The Funding will be in Euro.
Query :
1. Whether there is DTAA with Italy ?
2. Whether the New Company will get any benefit as 100 % Export Oriented Unit ?
3. What is the threshold limit for Investment in Indian Company by a Foreign Individual or Concern ?
4. In case of Dividend payments, what is the tax liability ?
5. Whether this new company can take Foreign Loans ?
6. What are the FEMA provisions regarding the above issues ?
Can someone provide me the information relevant to the above urgently?
CA. Anup Jaiswal
(e-mail : jaiswalbrothers@ymail.com)
I will be highly thankful on advising me on the following matter.
Facts :
My Client is a Pvt. Ltd. Company. The Directors have decided to open a new company whose main object will be to export the glass material, Timber, hand crafts and other goods from India to Italy. My Client has business contacts in Italy. As One of their Clients residing in Italy has offer 50 : 50 Basis Partnership in the new company. So, they have decided to open this new company in partnership (Shareholding) on 50:50 Basis. The registered office will be in India. The Funding will be in Euro.
Query :
1. Whether there is DTAA with Italy ?
2. Whether the New Company will get any benefit as 100 % Export Oriented Unit ?
3. What is the threshold limit for Investment in Indian Company by a Foreign Individual or Concern ?
4. In case of Dividend payments, what is the tax liability ?
5. Whether this new company can take Foreign Loans ?
6. What are the FEMA provisions regarding the above issues ?
Can someone provide me the information relevant to the above urgently?
CA. Anup Jaiswal
(e-mail : jaiswalbrothers@ymail.com)
02 December 2008
1. DTAA exists with Italy. Pl refer notfn. no. G.S.R. 189(E)/25-04-1996 : 220 ITR(St)3.
2.to 6 left open for discussion.
2.to 6 left open for discussion.
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