Repayment of Loan to NRI
This query is : Resolved
10 February 2021
1.Mr X is an NRI and a partner/owner in a b2b Destination management company(RGT) in Dubai.
2.Many partners /agents transfer funds directly to bank a/c in Dubai
3.Some partners prefer to pay locally in India .For such agents they have the option to remit funds to sister concern (of RGT) C & T Travels in India.
4. RGT has funds accumulated in C&T Travels
5. RGT owes Mr X against loan advanced by him
6.Can C&T Travels transfer the same to Mr.X bank account in India without any tax implications.Mr X is also a partner in C &T Travels
7.Is there any other alternative for repayment of loan to Mr.X form RGT without any tax implication
2.Many partners /agents transfer funds directly to bank a/c in Dubai
3.Some partners prefer to pay locally in India .For such agents they have the option to remit funds to sister concern (of RGT) C & T Travels in India.
4. RGT has funds accumulated in C&T Travels
5. RGT owes Mr X against loan advanced by him
6.Can C&T Travels transfer the same to Mr.X bank account in India without any tax implications.Mr X is also a partner in C &T Travels
7.Is there any other alternative for repayment of loan to Mr.X form RGT without any tax implication
01 December 2021
Check FEMA act for loan repayment rules, and comply the directives.
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
- Notice from IT DEPTT IF FD AMOUNT EXCEEDS 10 LACS
- Applicablity on tds
- Unable to generate and save json file for updated return
- GST payable under RCM
- WRONGLY UPLOADED 10IF FOR COOPERATIVE SOCIETY
- PRODUCT AND SERVICE CATEGORY CODE
- Regarding TDS not deducted on rent
- Audit of F and O T/O
- Inverted Tax Structure & Unutilized ITC on Services
- Tax audit & Switching from Presumptive taxation
- Import purchase entry
- Rule 54(1A) for Distributing ITC
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- Revision under Section 264 in The Income Tax Act, 1961
- TDS under section 195.
Trending Online Classes
-
LIVE Course on GSTR-9 & GSTR-9C (Technical | Practical | Concept - Based)
Sachin Jain03 November 2025
CAclubindia
