FC-TRS to be filed by Investee Company

The onus of submission of the form FC-TRS within the timeframe of 60 days from the date of receipt of funds has now been shifted to Investee Company. Earlier, it was on the transferor / transferee, whoever was resident in India. Also, the AD Category – I bank may now approach Regional Office concerned of RBI, Foreign Exchange Department before certifying the form FC-TRS received by them beyond the prescribed period of 60 days.

To view the full notification, please follow the link

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