https://www.taxtmi.com/forum/issue?id=107344 The company received remittances sent by a Dubai company on account of a Kuwaiti individual but FIRCs were issued in the Dubai company's name and amounts were recorded as long term borrowings. The question is whether those borrowings can be attributed to the foreign individual rather than the remitting company, and whether rectification with RBI is possible or whether explanatory disclosure in the notes to accounts is an appropriate alternative. en-us Tue, 16 Sep 2014 05:56:38 +0530 Thu, 23 Jan 2025 15:57:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=107344 The company received remittances sent by a Dubai company on account of a Kuwaiti individual but FIRCs were issued in the Dubai company's name and amounts were recorded as long term borrowings. The question is whether those borrowings can be attributed to the foreign individual rather than the remitting company, and whether rectification with RBI is possible or whether explanatory disclosure in the notes to accounts is an appropriate alternative. Discussion-Forum FEMA Tue, 16 Sep 2014 05:56:38 +0530 https://www.taxtmi.com/forum/issue?id=107344