Easy Office
LCI Learning

Fema compliance- purchase of shares in an indian co. from a

This query is : Open 
Profile Image

Profile Image

(Querist)
24 May 2013 An Indian Resident is to purchase equity shares in an Indian Company from a NRI.

At the same time the NRI is also to pay some purchase consideration to this Indian Resident on account of a current account transaction.

Can this consideration be set-off and only the net amount be paid to the NRI for the purchase of shares.

Kindly also provide a reference of the corresponding circular / section.
Profile Image

CA. Anuj Gupta

Profile Image

CA. Anuj Gupta (Expert)
24 May 2013 No, the same is not permitted.


Anuj
Femaquery@gmail.com
Profile Image

Abizer Y. Khambaty

Profile Image

Abizer Y. Khambaty (Querist)
27 May 2013 Sir, but is it explicitly mentioned anywhere that the same shall not be allowed.

Could you please provide me a reference of the same?
Upgrade to CAclubindia Pro. Subscribe Now!


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links