Hi everyone,
A client received payment in foreign currency for services offered to an Indian Subsidairy from its Parent company based abroad. the client is also Director of this Indian subsidiary. He doesn't get any other payment from the Indian Subsidiary.
Is it mandatory to file any report to RBI / IT Dept for these type of transaction. Pls confirm. if so pls name them and where can we get the formats??
Thanks.
CAclubindia
