Taxability on Fund transfer to a pvt. ltd. co. abroad
This query is : Resolved
abhishek arya
(Querist)
11 July 2011
My question to experts is, what legal formalities do i need to fulfill if i want to transfer a sum of Rs 2 Crores to a private limited company situated in australia,if i am transferring this as an individual .And what would be other income tax and Fema implications of such a transaction. plz help me ...
CA. Anuj Gupta
(Expert)
12 July 2011
I presume that you are purchasing the equity of Australian Company.
In that case you are only allowed to send upto 2 lakh US dollars for the same as per FEMA.
Anuj
0-9810106211
In that case you are only allowed to send upto 2 lakh US dollars for the same as per FEMA.
Anuj
0-9810106211
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