An LLP consists of an Indian and NRI partner which deals in export of service.
The customers are all outside India.
Now can the customers directly transfer foreign currency to NRI partner and then NRI partner deposits it in Indian LLP account. Is this legally and compliance wise correct?
| Originally posted by : Giridhar S Karandikar | ||
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Why can't customers directly transfer it to firm's account. |  |
Even with a payment gateway set up, the customers aren't tech savy to pay through it. As most of the customers use a bank teller to transfer money.
| Originally posted by : Sourav | ||
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As per RBI norms | |
Is it compliant to RBI norms?
| Originally posted by : Janak Shah | ||
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Yes can be done provided you maintain proper records to substantiate the entire process in case of any notice. | |
Thanks, proper records will be maintained.
CAclubindia
