Dear all
Please help in the matter of ECB interest payment @ 6 M LIBOR + 150 b.p as on 31.03.2008 for the 1st quarter interest pay, in the following points.
1. how interest will calculate on ECB
2. CA certificate is required in relation to remittance of income to foreign party and Tax are deducted in the same.
3. Please provide me the CA certificates format.
4. whether Company Secretary of the company or practicing CS can certified the same or not.
Regards
CS Anup Jain
09891973656
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ECB related
Replies (5)
6 months libor must be around 2.5 +1.5= 4% on full ECB Amount in foreign currency then convert it in to inr at closing rate on 31/03/08
interest will be for the period from loan disbrushment till 31/03/08
if we want foreign funding... what r the sources of funding,
madhavrj @ yahoo.com
ECB is best way from Holding company, or foreign bankers as per RBI GUidelines.
Hi,
U have to obtain certificate from CA. U have to submit application for remittance and form A2 for remittance.Its depends on the terms of the agreement whether u have to pay interest on behalf of party or later will bear . Some time as in case of SWAP transactions interest is fixed, hence we have to gross it and then deduct TDs (subject to DTAA, if any).
Generally Authorised Dealers send a statement of Interst calculation
Regards
A singh
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