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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- 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
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
