Does my company needs FIRC

Others 866 views 4 replies

Dear Friends,

 

Thanks in advance for reading through.


We recently incorporated a company in Delhi, and the purpose was to support and start our indian operations for main company in US that goes by the same name. On paper as such, theres no record that these two companies are related, other then that they have the common name. Private limited in india, and Inc. in US.

For daily operations, we transferred amount from US to India, in INR.  Our bank says it has got this money credited into our account without raising it to us, since the transfer was RTGS from another local bank.

For such - do we need to get FIRC from the bank, or inform RBI for the transfer. Since our bank is not ready to give any more information, how should we go about.

 

Thanks In Advance

 

Cheers

Replies (4)

Mr.Aashish

u need to get FIRC... however, u need nt to inform rbi for transfer  

Dear Sunil,

 

Thanks for your response. For what purpose would i need FIRC for then. Please suggest.

 

Thanks,

It is reqd only for future purposes.... In due course of tym if any issue is raised for these funds, then u will be able 2 substantiate the same...

 

Dear Sir,

 Regularly we are receiving advances from export buyers for that we have to get FIRC and BRC from our bank. what is the procedure to get FIRC & BRC and what are the relavent document for that.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register