07 April 2012
There are two couples living in Australia and they are creating trust and receiving donation from Australian citizens. They are going to invest this fund in Indian real estate and for this venture they are willing to create a pvt. Ltd. Company for investment in real estate. Q-1 is a foreign trust can play a role of shareholder in this company . Q-2. is there is a better way from this trick in india ( I think they should form a trust in india and registered it under FCRA regulation and start investing under society and to sale it out they may change only trustee to facilitate sale of property) Or we can create parent co. and its subsidiary co. in india and invest all trust money in india.
18 April 2012
both couples are having indian citizenship as well as australian citizenship. they are resident and ordinarily residents as per income tax provisions.
CAclubindia
