Whether fc-gpr field or not
This query is : Resolved
20 August 2013
Indian Citizen he invest sum foreign money India as Share Capital (At the time of Investment He is NRI)whether FCGPR Field or not?
C.A.laxmikant Saini
(Expert)
20 August 2013
Dear Remesh
Any investment made by a person resident outside India including NRI or an entity incorporated outside India is treated as Foreign Direct Investment (FDI) and subject to the FDI Policy of the Government of India. NRIs are permitted to invest in shares of Indian companies under FDI Scheme on repatriation basis, subject to the condition that the amount of consideration for such investment shall be paid only by way of inward remittance in free foreign exchange through normal banking channels.
As stated in your query that at the time of investment investor is NRI hence investment is treated as FDI and subject to FEMA compliances such as intimation of FIRC, filling of FCGPR and other compliances.
One interesting point to be noted that recently, in case of Jet-Etihad deal Department of Industries Policy and Promotion has decided not to treat the investments of Jet’s NRI owner Naresh Goyal in the proposed Rs 2,058-crore joint venture as foreign direct investment.
In case of any further clarification please feel free to contact.
CA Laxmikant Saini
laxmikant_saini84@yahoo.co.in
09310832563
Any investment made by a person resident outside India including NRI or an entity incorporated outside India is treated as Foreign Direct Investment (FDI) and subject to the FDI Policy of the Government of India. NRIs are permitted to invest in shares of Indian companies under FDI Scheme on repatriation basis, subject to the condition that the amount of consideration for such investment shall be paid only by way of inward remittance in free foreign exchange through normal banking channels.
As stated in your query that at the time of investment investor is NRI hence investment is treated as FDI and subject to FEMA compliances such as intimation of FIRC, filling of FCGPR and other compliances.
One interesting point to be noted that recently, in case of Jet-Etihad deal Department of Industries Policy and Promotion has decided not to treat the investments of Jet’s NRI owner Naresh Goyal in the proposed Rs 2,058-crore joint venture as foreign direct investment.
In case of any further clarification please feel free to contact.
CA Laxmikant Saini
laxmikant_saini84@yahoo.co.in
09310832563
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
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- GST input credit on commercial property
- Nursery business
- TDS on Dashcam rent and allied services
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Royalty payments to the Mining Department for procurement of murum - GST input
- Capital gains in IT returns
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
