03 May 2018
Our one company in USA which is S-CORPORATION BY ONE BROTHER.PARTNERSHIP FIRM IN INDIA BY ANOTHER BROTHER. NOW WHAT IS THE IMPACT OF INVESTMENT MADE BY USA COMPANY IN PARTNERSHIP FIRM IN INDIA IN EVERY ASPECT. WHAT TO DO FOR THAT.
05 May 2018
NRIs or Person of Indian Origin (PIO) resident outside India are allowed to contribute to the capital of a partnership firm or sole proprietary concern without prior approval, provided: 1. The contribution is on non-repatriation basis 2. Investment is done as an inward remittance, or out of NRE/FCNR (B)/NRO account maintained with AD Category-1 Bank. 3. The Indian firm or proprietary concern should not be engaged in agricultural, print media or real estate business. In the following cases, investors may apply for prior permission of RBI and Government of India, provided the last two conditions mentioned above are adhered to: 1. Where investment is preferred to be repatriable by NRIs/PIO. 2. For investors other than NRIs/PIO. The decision for the same will be taken by RBI and Government of India on case-by-case basis.
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