Remittance under fema
This query is : Resolved
27 September 2012
An asset developed by foreign company in India lying with Indian vendor.(owner is foreign company).
Foreign company enters an agreement with some indian co. and gives right to use of the said asset for consideration.
Can indian co. remit the consideration to forign co. under fema and rbi guidelines?
Foreign company enters an agreement with some indian co. and gives right to use of the said asset for consideration.
Can indian co. remit the consideration to forign co. under fema and rbi guidelines?
Amol S Joglekar
(Expert)
30 September 2012
Yes. Indian company can remit the amount under the said agreement subject to however form 15CA, CB and so on.
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