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Foreign transaction

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 January 2013 if a company collected amount in India on behalf of foreign company,and it remitted those amount from its subsidiary (out side india). Is is acceptable under law if not what are the consequence it has to face?
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CA. Anuj Gupta

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CA. Anuj Gupta (Expert)
10 February 2013 The same is not permitted under any law whether FEMA,service tax or income tax.

Anuj
Femaquery@gmail.com
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
23 July 2013 You have to undergo the formalities for this transaction and the expert has correctly mentioned the law as applicable
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