Dear All
For sale of shares in Indian Company by another another Indian Company to a foreign company, what are RBI reporting requirements need to make?
I understand Indian Seller Company will file FC-TRS.
Is there any other RBI compliance?
Indian Investee Company (whose shares are being transferred) needs to make any reporting or not?
Please advise.
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Thanks & Best Regards
CS Rakesh Kumar
B.Com, MBA, ACS
Rakesh & Co.
(Company Secretaries)
La Residentia, Tower-18, Flat-104
GH-06A, Tech Zone-IV, Greater Noida (W), Gautam Budh Nagar-201306, U.P.
Cell No.-+91-98119 09137
reporting
Dear All,
Please clarify whether BEN-2 filing is required by the Reporting Indian Subsidiary company:
(1) The Reporting Company is an Indian subsidiary company which has only two foreign body corporate shareholders with 99.98% and 0.02 % equity shareholding respectively.
(2) These two foreign body corporate shareholders has further body corporates only as a shareholders.
(3) If I go to the ultimate holding company also then also the shareholding is divided into different body corporates only and none of the individuals are holding more than 10% holding anywhere.
Please advise and revert back if any further clarification is required.
Thanks & Regards
Hirali Shah
Company Secretary
Dear All,
Is there any format for declaration of reporting holding company.
Please share.
Thanks
Dear All,
Can anyone please tell if the Companies are Holding and wholly Owned Subsidiary Companies and the Holding Company is a Reporting Company.
According to Form BEN - 2 in this case the purpose selected should be - for declaration of holding reporting company
What declaration is required in this case to be enclosed in this form - which is mandatory?
Regards,
Dimple Chawla
A Company voluntary prepared financial statement into XBRL for some financial year. Whether such Company required preparing the financial statement into XBRL in future also?
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There was delay in reporting of Form FC-GPR in three allotments. RBI issued advisory to get the delay in second allotment compounded and necessary application was made and compounding order was received and fee deposited. Details of all the three delays were stated in RBI compounding order and authority took a lenient view and compounded the second allotment delay. There was no inverse reference in the entire order. During investigation, ED stated that RBI's compounding order has not compounded the first and third allotment delay and now the show cause notice is issued. We met with concerned officer at RBI and he categorically informed that RBI's compounding covers all the defaults mentioned in the order and there is no default for which compounding is pending as the company has disclosed all the information and the same are reproduced in order also. Thus it is the wisdom of authority to take a lenient view and not charge fee for other defaults. We need to submit out written replies against SCN of ED. Can you please help me with some case law/ any other view point so that we can accordingly approach ED.
Click here to view / answer Share it onDear All, We have submitted the application for registration of reporting entity but not received the FIUREID since 15 days. Can anyone guide on this to get the same???
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Dear Sir/Madam, Provisions were changed on 7th Nov 2017. Still In form FC-GPR online form they are giving all the reference of old notification only. for example: b. DATE OF REPORTING OF ABOVE TO RBI UNDER PARA 9 (1) A OF SCHEDULE I TO NOTIFICATION No. FEMA 20/2000-RB DATED MAY 3, 2000, AS AMENDED FROM TIME TO TIME. CS certificate as per old provisions and even act mentioned as 1956 Any update you have on that.
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Please explain me about the first time application (from Assessment Year 2017-18) of reporting requirements of Country By Country Reporting (CBCR) by Multi-National Companies/Group Companies in Form 3CEB(A-E) for Transfer Pricing (Foreign Transactions and Specified Domestic Transactions) with Associate Enterprises at Income Tax Portal.
Click here to view / answer Share it onPlease provide me the updated Audit Report and Financial Statement Format to comply with Reporting on Demonetization for the year ended 31/03/2017
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