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 Topic
- Return filing for intervening period upto date of
- EPF Withdrawal taxation
- While e filing otp not generating
- INCOME FROM CLOSING OF NSS -1992 -EXEMPT UNDER W
- GPF AND COMMUTED PENSION RECEIVED
- How do I choose the correct trademark class? Can I
- Error in totalling salary amount in AIS
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
Related Topics
CAclubindia
