Legality and taxation of trading foreign assets for profit (bulk outward remittance)

Regards

     i want to know about legality and taxation on trading foreign assets(painting,artworks,assets) for profit. purchase will be all through outward remittance to US and EU (in range of 1-5 crore per month) and sale will be done either to foreigners or indian people so inward payment mode could be any. certain questions regarding this

1. TCS applicability if registered trading company(pvt ltd)

2. legality of business

3. any exemptions required from any authority for large scale outward transactions

4. i assume gst is not applicable as delivery of assets will almost always be in foreign land and in foreign convertible exchange.

did a lot of research but laws ain't that very clear on google. LRS is not applicable. not a word on foreign remittance rules by corporations on search. FEMA also is quite unclear regarding procedure though i believe transaction will very likely be under CAPITAL ACCOUNT TRANSACTIONS under FEMA

 

Replies (1)

DTAA double tax avoidance agreement. Please go through this. You have websites which offer info including caclub

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details