Sharma Associates — Tax Consultants & Advocates, Bangalore

Sharma Associates

FEMA & International Tax Services in Bangalore

FEMA Compliance · FDI · RBI Filings · NRI Tax · International Advisory

Overview

The Foreign Exchange Management Act (FEMA) regulates cross-border transactions involving foreign exchange, securities, and assets. For businesses receiving foreign investment, making overseas investments, or individuals with foreign income and assets, FEMA compliance is critical — non-compliance can result in penalties up to 3 times the amount involved. Sharma Associates advises on all aspects of FEMA, RBI filings, and international tax implications for companies and NRIs.

FDI Structuring

Advisory on FDI routes (automatic/approval), eligible sectors, and RBI reporting requirements.

RBI Filings

FC-GPR, FC-TRS, FLA, ODI, and other RBI statutory filings via the FIRMS portal.

NRI Advisory

NRI investment, repatriation of funds, FEMA compliance for overseas property and bank accounts.

ECB Compliance

External Commercial Borrowings reporting, LRN application, drawdown and repayment filings.

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Frequently Asked Questions

What is FEMA and when does it apply?
FEMA (Foreign Exchange Management Act, 1999) governs all foreign exchange transactions in India. It applies when an Indian resident receives or sends money abroad, receives foreign investment, invests overseas, or holds foreign assets.
What is FC-GPR filing and when is it required?
FC-GPR (Foreign Currency — Gross Provisional Return) must be filed with RBI within 30 days of receiving FDI and allotting shares to foreign investors. This is a critical mandatory compliance under FEMA.
What are the tax implications for NRIs with Indian income?
NRIs are taxable on income earned or accruing in India — rent from property, capital gains on Indian securities, interest on NRO accounts, and business income. DTAA benefits may reduce tax liability. We handle NRI ITR filing.
Can an Indian company give a loan to a foreign entity?
Outward loans are governed by Overseas Direct Investment (ODI) regulations. Indian companies can provide loans to foreign subsidiaries subject to eligibility, RBI reporting, and applicable limits. We advise on the entire ODI framework.

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