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

Is FC-TRS filing needed for share transfer from Non-Resident to Resident under FEMA Section 6(5)? A participant in a discussion forum inquired whether FC-TRS filing is necessary for the transfer of shares from a Non-Resident to a Resident when the shares were acquired by the Non-Resident under Section 6(5) of FEMA. The participant believes that FC-TRS is required only for shares held under Section 6(3) of FEMA.