FEMA

cs (Querist) 03 September 2009 This query is : Resolved
MY COMPANY HAD TO PURCHASE MUSICAL INSTRUMENT FROM ABROAD AS WE ARE IN ENTERTAINMENT INDUSTRY PAYMENT OF WHICH IS TO BE PAID IN 36 IN MONTHLY INSTALLMENTS.
WHAT ARE THE LEGAL IMPLICATIONS UNDER FEMA
OR IN ANY OTHER LAW

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A V Vishal (Expert) 03 September 2009
There are no legal implications under FEMA or other laws, take care to hold all documents executed in process of execution of the contract. Take care to furnish Form 15CA & 15 CB while remitting the amount under IT Act.

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cs (Querist) 04 September 2009
thank u

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