My friend is starting a partnership firm wid 2 more partners. They would be the like , associates of a foreign co. located in US.
Now the query is they would be selling online courses which are affiliated to foreign universities and the payment too would be recieved in $. all sale is to students of US nd Canada, and firm located in india wid all support system here only.
They would be paying tax in US.
Now wat r d implications of FEMA , Income tax and any other governing law in this regard. all access by students to purchase the course is by their website.
Any permissions needed and if yes which ones?
plz reply A.S.A.P
CAclubindia
