RBI - Form FC- TRS

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Amruta (Querist)
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19 November 2009 Hi
in case of transfer of shares from person resident in india to a person resident outside india a consent letter from the buyer and seller and also an undertaking from the buyer to the effect that he is eligible to acquire such shares needs to be attached to the FC - TRS form.
Within what time is the said form to be filled with RBI??

Thanx!
Amruta

V K Bajaj

V K Bajaj (Expert)
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22 August 2012

The Bank of the seller will issue FIRC and this FIRC is also to be attached with FC TRS.

FC TRS in quadruplicate should be delivered to the Bank of seller within 60 days from the date of receipt of money.

RBI has delegated this function to its Authorized Dealer i e the banker of seller.

contact@vkbajaj.co.in