Payment of commission to an agent in iran.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 September 2012 One company has got some order for supply of some material to to a company in Iran and the order was canvassed through an agent. The export will be via lc. Now the company wants to pay commission/brokerage to the agent in Iran. What are the foriegn exchange regulations to be complied in this regard. Whether this is permitted by law

Thanks in advance

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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13 September 2012 Yes the same is permitted under FEMA.

You need to fill up Form A-2 and send alongwith relavent documents to Bank.

Anuj
femaquery@gmail.com