31 August 2011
There is a transfer of shares of an indian company from resident to non- resident. The NRI gave the consideration for transfer through India Bank and in India Rupees.
How should we file FC TRS form in such a case as there is no foreign remittance certificate issued by the bank.
31 August 2011
In my opinion in such case certificate will be required to issued by the tranfaree only that is the resident previously owning the shares.
CAclubindia
