Payment made by non resident towards share application

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I want to know whether a Non Resident can make Share Application in an Indian Company by his NRO Account..

Whether any FEMA provisions would be attracted?

Please reply

Replies (2)

ANY PAYMENT RECEIVED FROM NRI WILL BE APPLICABLE WHETHER REPIRTABLE OR NON REPAIRTABLE ,AUTOMATIC ROUTE OR APPROVAL ROUTE

CHECK RBI SITE ALL CIRCULAR AVALIABLE 

 

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