Trff of shares

Dear Ms Sharma,

Form FC-TRS is to filed when shares are transfered by person resident in India to person resident outside India or vice versa.

Para 4 of below circular requires filing of Form FC-TRS with in 60 days from the date of reciepts of amount for consideration i.e. when resident pays to non-resident or vice versa.

For ur ready reference, I have reproduce para 4 of the said circular below;

4. Further, in order to ensure that the form FC-TRS is submitted within a reasonable timeframe, it has been decided that henceforth, the form FC-TRS should be submitted to the AD Category – I bank, within 60 days from the date of receipt of the amount of consideration. The onus of submission of the form FC-TRS within the given timeframe would be on the transferor / transferee, resident in India.

Thanks and Regards

Juzer Sadikot