Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2001

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..... cise of the powers conferred by section 5 and sub-section (1) and Clause (a) of sub-section (2) of section 46 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in consultation with the Reserve Bank, the Central Government having considered it necessary in the public interest, makes the following amendments in the Foreign Exchange Management (Current Account Transactions) Rules, 2000, n .....

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..... drawal of foreign exchange from the Exchange Earners Foreign Currency (EEFC) account is for the purpose specified in items 10 and 11 of Schedule II, or item 3, 4, 11, 16 & 17 Schedule III as the case may be." C. In Schedule II to the said rules, for item No.2 and the entries relating thereto, the following shall be substituted namely:- "2. Advertisement in foreign print media Ministry of Fina .....

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..... permanently resident in India and is a citizen of a foreign state other than Pakistan. ii. Exceeding US$ 5,000 per year per recipient, in all other cases. Explanation: For the purpose of this item, a person resident in India on account of his employment of a specified duration (irrespective of length thereof) or for a specific job or assignment; the duration of which does not exceed three yea .....

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