Rajesh Poddar (Chartered Accountant) (321 Points)
09 September 2010Dear All,
We are forming one pvt ltd. company. one of the director is indian and the other is from germany. Both with equal shareholding pattern.
My query is that when germany guy brings in money into india in this pvt ltd company as share capital say 10 lakhs. Do i need to take RBI permission OR is it exmpt upto certain limits. Also after 2-3 years can the money be repatriated back ?
Please reply
Rajesh Poddar
Hemu Kapoor
(CA - Final Student)
(158 Points)
Replied 09 September 2010
As far as Repatriation is concerned upto a specified limit money can be send outside india after payment of Income Tax
Suggestion : One can confirm the limits by referring to The Foreign Exchange Management Act for more details
CAclubindia
