Fema

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2011 Hi all,

Can a company(subsidiary of foreign co.) borrow money on one year advance against services provided to foreign clients.

is it allowed under FEMA and Income tax. what all rules and regulations, circulars??

VISHRUT

VISHRUT (Expert)
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21 September 2011 Yes it is allowed under FEMA and income tax with compliance of withholding Tax and Service Tax if any applicable.

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Querist : Anonymous

Querist : Anonymous (Querist)

22 September 2011 Hi ,

Thanks Vishrut!

can anyboby tell me relevant notifications or circular?

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Querist : Anonymous

Querist : Anonymous (Querist)

29 September 2011 Hi all,

Can a company(subsidiary of foreign co.) borrow money on one year advance against services provided to foreign clients.

is it allowed under FEMA and Income tax. what all rules and regulations, circulars??