Foreign remitance
This query is : Resolved
11 January 2014
Dear members,
Can a indian private company own a wholly owned subsidiary outside India by purchasing the entire share capital of the company. and the payment is made from normal bank account> is there any clause of making a payment from RFC A/c or the company has to take permission for payment from RBI
Can a indian private company own a wholly owned subsidiary outside India by purchasing the entire share capital of the company. and the payment is made from normal bank account> is there any clause of making a payment from RFC A/c or the company has to take permission for payment from RBI
11 January 2014
IT IS NOT A CAPITAL TRANSACTION HENCE NO PERMISSION IS REQUIRED.
BUT PERMISSION WILL BE REQUIRED IF PAYMENT EXCEDDS SOME EXTENT.
BUT PERMISSION WILL BE REQUIRED IF PAYMENT EXCEDDS SOME EXTENT.
11 January 2014
but the payment is for the capital contribution of the foreign entity. and what is that extent any assumption
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- SEC 54 OF IT ACT
- Form 26QB for TDS on property
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- RCM - commercial rent paid to URP under GST
- GST Annual Returns filing due date
- BLOCKED-INELIGIBLE GST CREDIT
- Amendment of September 2021 Invoice
- Payable outstanding for years disallowance
- Regarding Form 15CA & CB
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
- Regarding einvoice taken on nil rated sales
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
