If non-resident shareholders of a company have transferred their shares to the residents during the reporting period, then whether that company is required to submit the FLA Return?
Annual Return on FLA - Registration guidelines - General Instructions and Definitions - As on July 21, 2021
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Foreign investment reporting: companies whose non-resident shareholders fully transferred shares to residents need not file FLA return. If all non-resident shareholders have transferred their shares to residents during the reporting period and the company does not have any outstanding investment in respect of inward and/or outward FDI as on end March of the reporting year, then the company need not submit the FLA return.
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.
Foreign investment reporting: companies whose non-resident shareholders fully transferred shares to residents need not file FLA return.
If all non-resident shareholders have transferred their shares to residents during the reporting period and the company does not have any outstanding investment in respect of inward and/or outward FDI as on end March of the reporting year, then the company need not submit the FLA return.
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