Please Help: Loan from Abroad
Posted Date : 22-Apr-2015 , 04:12:11 pm | Posted By bhaskar
Hi Friends
This is regarding loan I have received from abroad in my indian Saving bank account, for the purpose of making of payment of our company which is foreign and has some fema issues, can and lend this money to our company from my account ? will be there be any RBI Fema issues need I has to pay any tax on this ?
This is regarding loan I have received from abroad in my indian Saving bank account, for the purpose of making of payment of our company which is foreign and has some fema issues, can and lend this money to our company from my account ? will be there be any RBI Fema issues need I has to pay any tax on this ?
Category : FEMA | Answers : 0 | Comments : 2 | Hits : 588
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DHEERAJ PACHNANDA
23-Apr-2015 , 10:17:42 amGaurav Navedia
23-Dec-2017 , 09:05:38 amMy understanding of your query is that you have rec'd loan from abroad to your Indian account and wanted to transfer the funds to a foreign company. FEMA - There will be FEMA implication since you will be transferring funds to a Foreign company, the nature of transaction will be loan from resident to nonresident it will need RBI approval. If you want to give loan to close relative who is staying abroad then it is permissible transaction without RBI approval. Any query kindly raise again in this portal only.