https://www.taxtmi.com/notifications?id=141930 Schedule XI prescribes that consideration for purchase/subscription of equity shares of Indian companies listed on international exchanges must be paid through banking channels to the company's foreign currency account or as inward remittance, with proceeds remitted to India or deposited in the compliant foreign currency account; sale proceeds (net of taxes) may be remitted abroad or credited to the permissible holder's account. Reporting obligations require Authorised Dealer Category I banks to submit Form LEC(FII) for FPI purchases/transfers on Indian exchanges and for purchases/subscriptions on international exchanges classified as FPI, reported by the investee company via the bank. en-us Fri, 19 Apr 2024 00:00:00 +0530 Wed, 24 Apr 2024 10:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=141930 Schedule XI prescribes that consideration for purchase/subscription of equity shares of Indian companies listed on international exchanges must be paid through banking channels to the company's foreign currency account or as inward remittance, with proceeds remitted to India or deposited in the compliant foreign currency account; sale proceeds (net of taxes) may be remitted abroad or credited to the permissible holder's account. Reporting obligations require Authorised Dealer Category I banks to submit Form LEC(FII) for FPI purchases/transfers on Indian exchanges and for purchases/subscriptions on international exchanges classified as FPI, reported by the investee company via the bank. Notifications FEMA Fri, 19 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/notifications?id=141930