Dear Members
We are in process of forming a LLP which will have only 2 Designated Partners.
One of the Designated Partner is holding US Citizenship but resident in India.
LLP Act allows foreign nationals also to incorporate a LLP in India.
My Query is what will be the Tax Implications for such Foreign national (holding US Citizenship), but resident in India
in case of such formation of LLP??
Your valuable views solicited at the earliest.
regards
Santosh Shah
| Originally posted by : SANTOSH SHAH | ||
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regards |
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Kindly check whether US National has become Person resident in India as per FEMA.
Anuj
femaquery @ gmail.com
Dear Sir.
Can u plz lemme knw whether it requires mandatory in principal approval of FIPB if there is FDI in LLP in the sector where 100% FDI is permitted thru automatic route. in regard to the circular No.1 of 2011 - consolidated FDI POlicy.
The person is the Designated partner in LLp to be incorporated and is the resident of PARIS. He ll be contributing Rs. 500000/- in cashh. The llp is into the DRAY CLAENING SERVICES.
CAclubindia
