Sorry, wasn't sure which category to post this under. Our private limited company has recieved investment (equity) from an NRI. The money was recieved via neft from their NRO account. Do we need to file FIRC with the RBI for the same?
3 Replies
Rama chary Rachakonda
(Master in Accounts & high court Advocate email ID:ramachary64@gmail.com voice no:9989324294)
(7600 Points)
Replied 15 March 2025
2. *Income Tax Reporting*: The company must report the investment in its income tax returns and comply with other tax regulations.
Renie Ravin
(3 Points)
Replied 15 March 2025
Thank you! So where we are stuck is - for FC-GPR we need the FIRC certificate from the bank right? The bank is saying they never received any foreign remittance so FIRC can't be given. 🤔
Rama chary Rachakonda
(Master in Accounts & high court Advocate email ID:ramachary64@gmail.com voice no:9989324294)
(7600 Points)
Replied 15 March 2025
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