Dear All,
If an NRI who continued to hold an savings account in bank in India made payment to a company a subscripttion to its shares then will thi sbe treated as FDI. Are there any FEMA compliances to be made?
The shareholding of such person be shon in annual return as held by NRI or resident?
Also is he allowed to do so.?
What will be the treatment for transfer of shaer sso held to a NRI or to a resident?
Thanks
As the name itself suggests Foreign Direct Investment (FDI) regulations apply when money directly comes in foreign exchange from any foreign country. If payment is made in INR from local account, it is not FDI and FEMA regulations will not apply.
Malhotra Rajesh & Associates
New Delhi
B.Com
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Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Final
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Shyam S Gupta and Company
New Delhi
CA Inter
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ADY & CO.
New Delhi
Graduate (Any)
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CCI
Pro
CAclubindia
