Capitalisation of import payables: shares may be issued against certain foreign currency payables subject to tax and procedures. Policy now allows issue of equity shares to non residents against lumpsum fees, royalties and External Commercial Borrowings in convertible foreign currency already due for payment or repayment, subject to meeting all applicable tax liabilities and required procedures; previously issue was permitted only against inward remittance in convertible foreign exchange or debit to NRE/FCNR accounts.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Capitalisation of import payables: shares may be issued against certain foreign currency payables subject to tax and procedures.
Policy now allows issue of equity shares to non residents against lumpsum fees, royalties and External Commercial Borrowings in convertible foreign currency already due for payment or repayment, subject to meeting all applicable tax liabilities and required procedures; previously issue was permitted only against inward remittance in convertible foreign exchange or debit to NRE/FCNR accounts.
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