If an entity issues the shares to non-resident on non-repatriable basis, whether that entity is required to submit the FLA return?

If an entity issues the shares to non-resident on non-repatriable basis, whether that entity is required to submit the FLA return? https://www.taxtmi.com/manuals?id=6008 Shares allotted to a non-resident on a non-repatriable basis are not treated as foreign investment under the Annual Return on Foreign Liabilities and Assets framework of FEMA 1999; therefore, an entity whose only foreign shareholdings are non-repatriable allotments is not required to file the FLA return, the reporting obligation hinging on the repatriability characteristic of the issuance. en-us Thu, 28 Nov 2024 14:24:00 +0530 Thu, 28 Nov 2024 14:24:00 +0530 TaxTMI RSS Generator If an entity issues the shares to non-resident on non-repatriable basis, whether that entity is required to submit the FLA return? https://www.taxtmi.com/manuals?id=6008 Shares allotted to a non-resident on a non-repatriable basis are not treated as foreign investment under the Annual Return on Foreign Liabilities and Assets framework of FEMA 1999; therefore, an entity whose only foreign shareholdings are non-repatriable allotments is not required to file the FLA return, the reporting obligation hinging on the repatriability characteristic of the issuance. Manuals FEMA Thu, 28 Nov 2024 14:24:00 +0530 https://www.taxtmi.com/manuals?id=6008