Sale proceeds received and spent in foreign bank account

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Sale proceeds received and spent in foreign bank account
Query (Issue) Started By: - chandrashekar Mahadevappa Dated:- 25-10-2018 Last Reply Date:- 25-10-2018 FEMA
Got 1 Reply
FEMA
Hi All .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... , Need your guidance on the below issue: A software company has a branch office in USA for sales and marketing. The USA branch office holds a bank account for payment of salaries and other expenses. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... The company received payments from customers in to the foreign bank account. The company used a small portion of such receipts towards salaries and other expenses in USA. Please let me know the im .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... plications under FEMA since the export proceeds were used in USA without bringing the money in to India. Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: Your query is to be elaborative still more. Wh .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ether the customers are Indian customers. Whether the services of foreign branch office are rendering in India?
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X