Praveen Kumar (Manager - Finance & Accounts) (189 Points)
13 December 2012Is there is any Compliance needed if share are transfer from NRI to Non Resident Company ,Shares are of Indian pvt company which are acquired by NRI when he was resident in India ?
Praveen Kumar
praveenkca25 @ gmail.com
Shankar BA(Hons)
(CS)
(278 Points)
Replied 13 December 2012
Dude,
Compliance is compulsoryly needed as the company is "private limited" and company to which the shares are transfered is outside our nation.
Moreover the period has to be taken into account. That is,
1) The date of shares acquired by the person when he was in India
2) The date of transfer to the Non-Resident Company
This is applicable, if, it is a foreign company in their nation or has branch / base in India.
Praveen Kumar
(Manager - Finance & Accounts)
(189 Points)
Replied 13 December 2012
What are the complinace under FEMA ?
Shankar BA(Hons)
(CS)
(278 Points)
Replied 14 December 2012
Praveen Kumar
(Manager - Finance & Accounts)
(189 Points)
Replied 14 December 2012
Thanks sir ........
CAclubindia
