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Payment made by non resident towards share application

kalpesh (assistant) (193 Points)

13 July 2011

I want to know whether a Non Resident can make Share Application in an Indian Company by his NRO Account..

Whether any FEMA provisions would be attracted?

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2 Replies

valji (Accounts manager-MBA) (2150 Points)
Replied 13 July 2011

ANY PAYMENT RECEIVED FROM NRI WILL BE APPLICABLE WHETHER REPIRTABLE OR NON REPAIRTABLE ,AUTOMATIC ROUTE OR APPROVAL ROUTE

CHECK RBI SITE ALL CIRCULAR AVALIABLE

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Ramalingam K (Founder & Director - Holistic Investment Planners (P) Limited) (21077 Points)
Replied 07 May 2014

What every NRI needs to know about NRI demat account? The Indian equity market is viewed as a window to prosperity by resident Indians and NRIs. Despite facing strenuous economic disaster, the Indian stock market is enjoying sheer position. The market has been on a roll for the past 10 years, with an estimated growth of 19% per annum witnessed on the Sens*x https://www.holisticinvestment.in/nri-demat Regards Ramalingam K, MBA, CFP, Director and Chief Financial Planner, Holistic Investment Planners “Best Performing Financial Advisor Award” Winners from CNBC TV18 www.holisticinvestment.in (Follow us on):- https://www.facebook.com/holisticinvestmentplanners