Please let me know whether there should be any RBI compliance for any foreign subsidiary company providing software development services.
7 Replies
Satish
(CA Final Student)
(479 Points)
Replied 11 November 2009
Provisions of foreign exchange management act 1999 are to be complied with. The subsidiary has to seek Permissions from RBI from time to time wherever required.
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 04 July 2011
| Originally posted by : M Agrawal | ||
 |
Please let me know whether there should be any RBI compliance for any foreign subsidiary company providing software development services. |
 |
First of all the subsidiary should have been opened under the guidelines prescribed by RBI.(400% limit)
Secondly there is Annual Statement of Assets & Liabilities to be submitted by 15th July for such investement in subsidury by Indian Co.
Also the transactions between the foreign subsidiary and Indian Co. are subject to overall regulations of FEMA..
Anuj
091-9810106211
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 04 July 2011
| Originally posted by : CA. Anuj Gupta | ||
|
|
|
|
Thank you sir for the information.
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 18 July 2011
Also the Indian company needs to submit Form APR certified by the auditor of Indian company before end of 3 months from the cloase of boks of accounts of foreign subsidiary.
Anuj
+91-9810106211
Aravindh K
(CA)
(164 Points)
Replied 01 July 2013
Dear all,
Please let me know where I can get to learn more about these regulations and due dates or the relevant notifications and laws.
Thanks in advance.
CS Prigya Gupta
(CS)
(21 Points)
Replied 26 September 2013
Thanks CA Anuj Gupta Sir
Kindly share form which regulations or act, I could study all the compliances with regard to foreign subsidiary.
Regards
CS Prigya Gupta
GEETA BANSAL
(company secretary)
(22 Points)
Replied 30 June 2017
Thanks CA Anuj Gupta
Sir Kindly share form which regulations or act, I could study all the compliances with regard to foreign subsidiary.
Regards
CS GEETA BANSAL
Recent Topics
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF UNCLAIMED RCM
Related Threads
CAclubindia
