Remmitance by foreign Citizen
This query is : Resolved
03 February 2011
if foreign citizen remit the money in company's a/c either for share capital or for unsecured non-repatriation basis , does any permission from RBI or any govt. compliance are required where other share share holders are Indian.
04 February 2011
There are lot of compliance requirements in the case of purchase of shares by Foreign Citizen.
First the Indian Co. needs to inform RBI about the receipt of money within 30 days.
Then the Indian Co. need to file Form FCGPR with in 180 days of receipt of money in India.
Also yearly filing of statement of Assets & Liabilities is also there.
Anuj
0-9810106211
First the Indian Co. needs to inform RBI about the receipt of money within 30 days.
Then the Indian Co. need to file Form FCGPR with in 180 days of receipt of money in India.
Also yearly filing of statement of Assets & Liabilities is also there.
Anuj
0-9810106211
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 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR returnFY25-26
- ITR selection for salaries and capital gain less than L
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Article ship defecit
- Bank Accounts in Balance Sheet for ITR 3
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- 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
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
