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Introduction to Software Export Declaration (SOFTEX) Form
FEMA
CA. Kapil Mittal

Introduction to Software Export Declaration (SOFTEX) Form

Export of goods and services is the most regulated transaction as it takes domestic products into the international market and brings foreign currency in India. An exporter is required to furnish various forms and documents with different authorities to substantiate that goods have been actually exported and consideration for such export is received in convertible foreign exchange.

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Possession and Retention of Foreign Currency in India
FEMA
CA. Kapil Mittal

Possession and Retention of Foreign Currency in India

As per Section 4 (Holding of foreign exchange, etc.) of FEMA, no person resident in India is permitted to possess any foreign exchange, foreign security or any immovable property situated outside India.

Person is not allowed to possess foreign exchange whether in India or outside.

However, exemption from this general prohibition is given under Section-9, i.e, Exemption from realization and repatriation in certain cases.

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Trade Credit under FEMA
FEMA
CA. Kapil Mittal

Trade Credit under FEMA

Trade Credit is a very popular term in daily business transactions. Trade Credit is a source of short-term financing wherein the Supplier provides an agreed credit period to the buyer to make payment for the supply of goods or services without any interest. 

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Foreign Owned or Controlled Companies (FOCC) under FEMA
Foreign Direct investment
CA. Kapil Mittal

Foreign Owned or Controlled Companies (FOCC) under FEMA

Foreign investors are more inclined toward options where they have complete control over the entity and also such entities can enjoy benefits as domestic companies. FOCC has become a wonderful source of investment for such investors. FOCC can conduct business in India as a domestic company.

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Registration of Expatriates by FRRO in India
FEMA
CA. Kapil Mittal

Registration of Expatriates by FRRO in India

Whenever a Foreign National wishes to reside long-term in India, typically a stay that exceeds more than 180 days, one of their key responsibilities is to visit the Foreign Regional Registration Office (FRRO) within the first 14 days of arrival in the territory of India.

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