Fema - foreign exchange remittance

This query is : Resolved

Senthil Kumar B (Querist)
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05 June 2012 BACKGROUND
One of our client is a Multi model transport company having agents abroad, they do remittance to their agents for services rendered outside india through A2 remittance. While making the A2 remittance they deduct the amount receivable from their agents for the services done by the client in india to the agents and remit the balance.

QUERY
Whether under FEMA setting off of receivable against Payable is allowed. do we need to get any prior approval from RBI / Govt.

rvsekar2000

rvsekar2000 (Expert)
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18 June 2012 Hello,

You can please visit the following link to have detailed information about your query.

http://rvseckarfema.blogspot.in/2012/06/set-off-of-export-receivables-against.html

Regards

R.V.Seckar

Mobile- 09848915177

Pl do visit my blogs :

http://www.rvseckarcompanylaw.blogspot.com/

http://rvseckarfema.blogspot.com/

http://rvseckarindianlaws.blogspot.com

http://rvseckarincometaxcaselaws.blogspot.in/

Senthil Kumar B

Senthil Kumar B (Querist)
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18 June 2012 Thank you very much Sir, it was really usefull

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