amount received from foreign holding company

[Pavani Akilla]

Hi

A wholly owned subsidiary company received an amount by its foreign holding company in the month of May 2022. 

1.   can it be considered as an exempted deposit (as amt received from foreign body corporate) and report in DPT3

2.    What RBI compliances to be taken care of? 

Thanks & Regards

Pavani Akilla                      

Practicing Company Secretary
9440577587

[Francis Mc]

Funds can be received from a foreign company either as FDI or ECB complying with RBI regulations and Foreign Exchange Management (Non-debt
Instruments) Rules, 2019. In case of Indian start up companies by way of convertible notes

[Ashish Gupta]

check FIRC/ contact AD for deTAILS

 
AKG & CO
COMPANY SECRETARIES
FCS Ashish Gupta

A-16 Jitar Nagar, Parwana Road

Near Preet Vihar Metro Station, Delhi - 110051

09312210264

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[Pavani Akilla]

Thank  You all

remittance  code in FIRC : P0802 ie., Software consultancy  

Any compliances under RBI?  

Thanks & Regards

Pavani Akilla                      

Practicing Company Secretary
9440577587

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[Sandy]

Friends, 

RBI purpose code P0802 is for "without Softex". Can we use this for Software Consulting exports? 

I've heard 2 views - a CA told me that we need Softex for any type of Software exports (whether registered under STPI or not). 

Happy to hear inputs.

Regards,

Sundar 

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