How to open a Bank a/c abroad by an Indian Co', What are the FEMA requisits?
Opening a Bank A/c abroad by Indian co'
CS MD Osman Akthar (Company Secretary & CA(Final)) (78 Points)
25 January 2011
2 Replies
Sudhir Garg
(Service)
(236 Points)
Replied 25 January 2011
Does mere opening of bank account in aborad really attract FEMA applications??
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 21 March 2011
Yes mere opening of account abroiad attracts FEMA as per sec.3 of the Act. Kindly check the purpose for which such account is being opened although normally foreign accounts opening is not prohibited by RBI.
Recent Topics
- Making payment once in quarter possible under QRMP
- Master File Documentation related
- Applicability of 44AD needs clarification
- ITC reversal in GST 3B
- Claim if ITC on stocks 19-2020 conversion from com
- Urgent doubt on GST
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
Related Threads
CAclubindia
