Our client is an MNC & its holding company is in UK. At the time of incorporation of company the UK comp. has incurred some expenses of about Rs. 40 lakhs. The exp. were incurred directly by the foreign co. Now the Indian co. want to repay the amount to its holding. So what should be done in this case. Please tell about all compliances & procedures to be fulfilled (FEMA & Other compliances).
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Remittance to foreign country
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The remitting company must take a certified Form 15CB from a Chartered Accountant & must fill in the same details in Form 15CA & submit it online. The copy of uploaded 15CA which is signed by authorised signatory & certified 15CB must be submitted to the RBI. And the RBI grants permission to make the payment. Then payment can be made.
For the purposes of FEMA Can you please tell how much investments were brought in India by the UK Company?
Anuj
+91-9810106211
femaquery @ gmail.com
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