Foreign investment
This query is : Resolved
24 December 2011
Dear Members
First of all I would like to wish you all a merry christmas and a Happy New Year.
As I have remitted Rupees 40 Lacs (approximately) excluding banks commission for making investment in a Company incorporated outside india other than Foreign Company as per Companies Act, 1956 but the company will issue me Shares of 75000 USD so what will be my cost of investment.
I mean what amount to be capitalised.
It is for Individual and for accounting purpose
First of all I would like to wish you all a merry christmas and a Happy New Year.
As I have remitted Rupees 40 Lacs (approximately) excluding banks commission for making investment in a Company incorporated outside india other than Foreign Company as per Companies Act, 1956 but the company will issue me Shares of 75000 USD so what will be my cost of investment.
I mean what amount to be capitalised.
It is for Individual and for accounting purpose
25 December 2011
Dear Abhinay
your question is with regard to income tax or accounts?
assuming it is for accounts.
you have to follow accounting standard 11 which states that the exchange rate prevaling on the date of transaction being effected should be considered for recording the cost.
your question is with regard to income tax or accounts?
assuming it is for accounts.
you have to follow accounting standard 11 which states that the exchange rate prevaling on the date of transaction being effected should be considered for recording the cost.
26 December 2011
Please make clear that the investment is by individual or a Company. Both have different implications under FEMA.
Anuj
Anuj
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
