CA Arun Chhajer (GST Faculty @ Ministry of MSME Govt of India) (2813 Points)
22 September 2011Dear Member,
An indian company say A having 100% subsidiary company say B situated in foreign. Co B has also one subsidiary company say C in foreign.
Now the Transactio between company B & Company C will attract FEMA provision. If yes please support your answer with relevant provision of FEMA ?
Thanks & Regards
Arun Jain
CS Bijoy
(Expert)
(6394 Points)
Replied 01 October 2011
According to me FEMA will not attract in the transaction between B and C because both are established as per the rules and regulation of that country but in case of remitence from B to A than FEMA will attract.
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 13 October 2011
B and C are non residents as per FEMA hence transaction between B and C shall not attract FEMA.
Anuj
+91-9810106211
femaquery @ gmail.com
CA Arun Chhajer
(GST Faculty @ Ministry of MSME Govt of India)
(2813 Points)
Replied 04 November 2011
Thanks Bijay Ji and Anuj Ji
Regards
Arun Chhajer
CAclubindia
