Very very urgent!!!!!plz help

Dear Ms. Priya

Please read Point No. 21 and 22  on Page No. 11 and 14 of the master Circular attached herewith.

Regards

But no where its is mentioned about the pricing of shares transferred by person resident outside India to person resident in India.

Rgds

Priya

Read Page No 62 as annexture 4 of the Master Circular.

But Sir that deals with the transfer of shares from Person resident in India to Person resident outside India by way of gift. And i am asking about the transfer of shares by way of gift from person resident outside to person resident in India.

Rgds

Priya

Read Page No 13 point no (ii)  which deal filing of FC-TRS within given time frame would be on the transferor or transferee, resident in India.

It means onus of  taking approval of  under Government Route will be on resident in India, because in circular there is no such provision for non-resident under transfer of securities by way of Gift.

Regards

Thank You Sir!!

my goodness . 

GO through the orignal rule  it is clear over there that "NON resident can GIFT THE shares to RESIDENT " 

but gift by "resident to non resident requires approval of RBI and if shares are of prohibited sector further approval of CG is requires"

the rule is simple if NR gifts shares to resident THEN THERE IS NO OUTFLOW OF FOREX HISMONEY IS BLOCKED IN INDIA  . SO no aprroval /formality is required .

on the onthert hand if a resident gifts shares to NR then INDIA LOSSES THE FOREX which would have been earned had the sahres been sold .

there are also "case laws" dealing with  "exachange of shares" 

sorry i missed the point no approval is required in your case only F C - TRS is required to be filed and that too without "valuation report"  .

but you should comly with the sec 108  .