Remmitance to a company outside India

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Subramanian G (Querist)
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19 May 2008 Hi,

I have a query on Remittance to a company outside India.

X is an Indian Pvt Ltd Company.

Y is a company in Srilanka.

Qn. 1 Can X remits some amount to Y towards expenses for establishing X's office in Srilanka

Qn 2 If it is possible whether TDS is applicable ?
Qn 3 Is there any limit up to which TDS need not be deducted ?

Qn 4 Or whether the Directors of X in their INDIVDUAL CAPACITY can remit money to Y in srilanka for establishing an office there ?

Qn 5 Is there any limit for the above ?

Qn 6 Whether TDS will be applicable ?

Qn 7 What are the procedures for making such remittances.

Thanking you

Regards

Subramanain

CA. Vineet Grover

CA. Vineet Grover (Expert)
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19 May 2008 Hi Subramaniam,

Do let me know the contract if any entered between X and Y

Rgds/
Vineet

Subramanian G

Subramanian G (Querist)
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22 May 2008 Hi Vineet,

Thanks for the reply.
As such there is no agreement. It is in inital stage.

But the company in Srilanka wants some advance for find out whether establising a marketing office there is viable or not.
If the same is not viable then they are saying they will return back the amount.

Regards

Subramanian

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CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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16 May 2011 the same can be given as advance . There are no issues involved apart from time period in which such advance has to be returned back.

Anuj
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