Transfer of shares
This query is : Resolved
23 July 2012
X Ltd - (Foreign Co) holds 99.99% of shares in PQR Pvt Ltd (Indian co) and 1 share (0.001%) is held by Mr. NRI as Nominee shareholder of X Ltd.
Now i want to transfer this 1 share held by Mr. NRI to other Foreign Company.
please guide me with:
1. whether should i follow transfer of share (s.108) or should i need to follow change of nominee route (S.109A)of Co. Act.
2. Fema Guidelines for transfer of share from Non resident to non resident.
3. also do it involve any transactions for purchase price and how it is valued under FEMA / Companies Act.
4. what are the formalities to comply with under FEMA and Co Act.
please reply me urgently.
thanks
in advance.
Now i want to transfer this 1 share held by Mr. NRI to other Foreign Company.
please guide me with:
1. whether should i follow transfer of share (s.108) or should i need to follow change of nominee route (S.109A)of Co. Act.
2. Fema Guidelines for transfer of share from Non resident to non resident.
3. also do it involve any transactions for purchase price and how it is valued under FEMA / Companies Act.
4. what are the formalities to comply with under FEMA and Co Act.
please reply me urgently.
thanks
in advance.
23 July 2012
Hi
As per my understanding it will be change of nominee and the provision of section 187C will be applicable, instead of transfer of shares.
Other views are also solicited.
As per my understanding it will be change of nominee and the provision of section 187C will be applicable, instead of transfer of shares.
Other views are also solicited.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Payment of bonus act - notice pay recovery
- MIS MATCH OF INVOICE NUMBER
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
