Repartration of Share Capital invested by Indian Citizen

Mohan (Director) (36 Points)

28 April 2011  

Dear All,

 

One of my friends has invested US$40,000 (under the liberalized scheme over a in a company in Singapore as a Share captial. He is an Indian National. He has not got any PROFITS or dividends or any other income from the said company or otherwise overseas.

Now, he wants to bring back the invested sum of US$40,000 in its entireity. Are there any implications from Incometax Angle or from FEMA / FERA.

 

Please advice

 

Rgds

Mohan