03 August 2011
Sir My client wants to receive a payment of Rs.1.5 crore from a foreign party in his bank a/c for the purpose of investing in a Land in India. (Both are like partners in it). Now under what heading we should take payment so that we don't get stuck under the laws of FEMA? Also we can't take it as a gift as it will become taxable in my client's hand. Kindly suggest.
CAclubindia
