Can a Partnership Firm borrow from non resident concern....if yes what is the procedure for that?
Menu
External borrowings
Replies (4)
https://www.rbi.org.in/scriptts/BS_FemaNotifications.aspx?Id=158
Partnership Firm doesn,t qualify as a "Eligible Borrower" under the External Commercial Borrowing Scheme(ECB) Scheme , hence Partnership Firm can't take loan from Non-Resident Entity.
However trade credits are permitted.
Anuj
+91-9810106211
femaquery @ gmail.com
Hello sir thank you for your information.... further i would also like to know whether an individual can take loan from foreign citizen... if yes what is the procedure.........
Individual also can't take loan from a foreign citizen unless the other person is a "NRI" who is also a "close relative".
Anuj
+91-9810106211
femaquery @ gmail.com
Recent Threads
- Choice of itr form
- DTAA with US - Interest & Dividend
- Last Year ITR Not Filed and Hence NO TDS was claim
- Does ITR2 take much longer for processing
- New GST Reforms 2025 Announced by PM Modi –
- Share capital Amount
- Fund claimed as nominee of deceased Parent
- ITC claim on cements and Steels
- Reverse charge can transport company collect Rever
- LTCG-LOSS ON SALE OF EQUITY SHARES
Related Threads
CAclubindia
