Intimation to rbi

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CS
461 Points Joined June 2010

 

Hello Experts,

We have a US client, having its wholly owned subisidary. The parent company remitted an amount of Rs. 1lacs for share capital. From this amount the bank deducted Rs. 1654 towards their charges.

My question here is what amount should be mentioned while intimating RBI.

How can I allot shares of Rs. 1lacs since the money in hand is only 98,346.00

Please help.

Thanks,

JJ

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On 22 August 2011 at 14:29 Report
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CA in service & CS. dipmaj@
3488 Points Joined June 2011

You will show 1L in equity capital and charge bank charges to income ie in PL account. The point needs to be verified which bank deducted the charges the recipinet indian bank or any bank in the international banking channels

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On 22 August 2011 at 20:03


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