FC-TRS under FEMA

[kalyanaraman Venkatraman]

Hi,

Can you share your view on the following query.

Whether FC-TRS is required to be filed for the transfer of shares from Non-Resident to Resident, which is acquired by the Non-Resident U/S 6(5) of the FEMA.

In my interpretations FC-TRS is required only for shares held u/s 6(3) of FEMA.

Thanks

S. BARANIDHARAN

AI Summary

FC-TRS requirement questioned for transfers of shares from non-resident to resident and its applicability to special acquisition circumstances. Whether FC-TRS filing is required for transfers of shares from a non-resident to a resident when the shares were acquired by the non-resident under FEMA's special acquisition provision is questioned; the inquirer suggests FC-TRS is required only for shares held under the general holding provision and not for shares acquired under the special acquisition provision.