(a) Form FCTRS shall be filed for transfer of equity instruments as per the rules, between:
i. person resident outside India holding equity instruments in an Indian company on a repatriable basis and person resident outside India holding equity instruments on a non-repatriable basis; and
ii. person resident outside India holding equity instruments in an Indian company on a repatriable basis and a person resident in India.
Transfer of equity instruments in accordance with the rules by way of sale between a person resident outside India holding equity instruments on a non-repatriable basis and person resident in India is not required to be reported in Form FC-TRS.
(b) Transfer of equity instruments on a recognised stock exchange by a person resident outside India shall be reported by such person in Form FC-TRS.
(c) Transfer of equity instruments prescribed in Rule 9(6) of the Foreign Exchange Management (Non-Debt Instrument) Rules, 2019, shall be reported in Form FC-TRS on receipt of every tranche of payment. The onus of reporting shall be on the resident transferor/transferee.
(d) Transfer of 'participating interest/rights' in oil fields shall be reported in Form FC-TRS.
(e) Form FC-TRS is required to be filed by the Indian company buying back shares in a scheme of merger/ de-merger/ amalgamation of Indian companies approved by National Company Law Tribunal (NCLT)/ competent authority.
The form FC-TRS shall be filed within sixty days of transfer of equity instruments or receipt/ remittance of funds whichever is earlier.
Source: https://www.rbi.org.in/