Refund of partial share application money to FDI-Urgent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 January 2011
Dear All,
We have alloted shares to a foreign Investor against share application money recd in foreign currency.
Now if Rs 125/- left for allotment (Per share value is Rs 10/-). The question is
1) If we want to refund this money do need to comply with all foreign remittance formalities eg Form 15CA, 15CB, FEMA Declaration etc?
Regds
We have alloted shares to a foreign Investor against share application money recd in foreign currency.
Now if Rs 125/- left for allotment (Per share value is Rs 10/-). The question is
1) If we want to refund this money do need to comply with all foreign remittance formalities eg Form 15CA, 15CB, FEMA Declaration etc?
Regds
24 January 2011
No all three is not required for refund of application money.
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 January 2011
Hi,
Can you pls provide me any circular or something proving this. As my bank is forcing for above fForms.
Regds
Can you pls provide me any circular or something proving this. As my bank is forcing for above fForms.
Regds
09 March 2011
you shall need to comply with form 15CA and 15Cb requirements if you wish to send the money back otherwise I don't think there is any need to send the money back .
RBI shall not impose any penalty on rs. 125/- or even if they wish to do so the maximum they can do is Rs. 375/-.(125*3)
Anuj
9810106211
RBI shall not impose any penalty on rs. 125/- or even if they wish to do so the maximum they can do is Rs. 375/-.(125*3)
Anuj
9810106211
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
- GST Regis.
- Inventory of finished goods
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Disallowance of Section 43B(h) to sez units
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Rent on gst on self ownership commercial property
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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 einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
