banner_ad

Re- fema compliance

Others 464 views 1 replies

Dear Members / Experts

Unlisted Public Company - in the Real Estate & Construction business.

A NRI Customer has issued a Foreign Bank Cheque of  USD 75000, ( Indian Currency of Rs.45 Lakhs approx) towards Advance Booking of 2 Flats with the company. 

As the amount is towards advance for booking flats,and the cheque shall be deposited with the Banks, kindly advice what immediate steps do we need to take with respect to FEMA Compliances? 

A Detailed procedure would be very helpful.

Kindly advice at the earliest.

regards

Santosh Shah

 

 

 

 

Replies (1)

As the amount received from NRI customer you have to deposit the amout in a bank who are authorised dealer in foreign exchange. NRI's are allowed to buy property in India.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details