Company in a foreign country
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 January 2011
If a resident of india having its own company outside india being the sole owner but the same not been disclosed by him in india then what are the consequences from the point of view of tax, fema/fera & company act?
16 January 2011
having a business outside india, query is not clear ?
If the business is outside india, the resident must be bringing the money in india. In that case all the provisions of IT, Fera /fema will apply.
If a person going outside india , and doing business there , will not attract any indian law.
If the business is outside india, the resident must be bringing the money in india. In that case all the provisions of IT, Fera /fema will apply.
If a person going outside india , and doing business there , will not attract any indian law.
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 January 2011
Sir, tks for your rply. The person is having his own company outside india but has not disclosed the facts in India to any authority. Secondly, he is having his own company in India also.
19 January 2011
The same is not permitted under FEMA and you may be asked to pay the penalty upto 3 times of money invested in foreign company.
Anuj
9810106211
Anuj
9810106211
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