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    Receipt of Money From Abroad

    Posted By : Sachin / Published on : 24-Jul-2021 12:55 PM / View : 789 / Comment : 0

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    Dear All, I have a query

    A Ltd is a company in India, whose 99.99% shares are held by a US Parent Company. A Ltd is incorporated for providing software support services. It has entered into a contract with US Parent Company for providing services of software support. It raises monthly invoice to US company.

    Now the Authorised Dealer Bank of A Ltd in India says that it cannot receive money from US Parent Company as current account transaction against the invoice. The money can come only as a FDI.

    Can anyone help me out with the above?
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