Rbi

Querist : Anonymous (Querist) 16 December 2011 This query is : Resolved
Hello Experts... Kindly help me out
For annual return filing with RBI, I have the following query:-
A wholly owned foreign subsidiary incorporated in January 2011. The company has received Capital money in July 2011.By the end of the period ended 31st March the paid capital is NIL.
Do we need to file annual return with RBI on accrual or recievable basis… i.e. Nil return.
Thanks,
Regards
JJ

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Guest (Expert) 16 December 2011
What was the source and date of remittance?

Querist : Anonymous (Querist) 16 December 2011
We recieved it from our client in US and on 30th July,2011

Raj Kumar Makkad (Expert) 16 December 2011
You are required to file Nil Return in the given situation.

Guest (Expert) 16 December 2011
I did not ask for the date of receipt, but the date of remittance from US and the mode of remittance.

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