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Form 15CA & 15CB by a Foreign Company

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(Querist)
20 January 2023 Foreign Company buys shares of an Indian Company from another foreign company. Whether the buyer foreign company has to obtain CA Certificate in Form 15CB & furnish details in Form 15CA while making remittance to the seller Foreign Company?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 January 2023 15CA and 15CB required in case of foreign remittance from India on sale of shares.
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CA Ritu Chauhan

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CA Ritu Chauhan (Querist)
20 January 2023 Remittance is not going to be made from India, it will be done directly by the buyer foreign company to the seller foreign company.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 January 2023 In such a case 15CA and 15CB not required as the remittance is outside India.

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