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Power of AO to Grant Stay — Whether Discretionary or Controlled By the Instructions and Circulars
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Capital Gains Tax Implications in Singapore on Capital Reduction or Liquidation
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Legal Considerations for Start-Ups – Are you overlooking some?
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February 2015

A. P. (DIR Series) Circular No. 56 dated 6th January, 2015

By Gaurang Gandhi Chartered Accountant

Reading Time 1 mins

Non-resident guarantee for non-fund based facilities entered between two resident entities

Presently, general permission has been granted to nonresidents to issue guarantee for non-funded facilities such as Letters of Credit/guarantees/Letters of Undertaking (LoU)/Letter of Comfort (LoC) entered between two persons resident in India.

This circular clarifies that resident entities that are subsidiaries of multinational companies can also hedge their foreign currency exposure through permissible derivative contracts entered into with a bank in India on the strength of guarantee issued by its non-resident group entity.

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February 2015

A. P. (DIR Series) Circular No. 56 dated 6th January, 2015

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A. P. (DIR Series) Circular No. 55 dated 1st January, 2015

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February 2015

A. P. (DIR Series) Circular No. 56 dated 6th January, 2015

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A. P. (DIR Series) Circular No. 55 dated 1st January, 2015

To Make in India, give a break to our tech & talent