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Manner of Payment in certain cases

Regulation 6 - FEMA - Regulation 6 - 6. :- (1) Notwithstanding anything contained in Regulation 5, a person resident in India may make payment for import of goods. In foreign exchange through an international card held by him/ in rupees from international credit card/ debit card through the credit/ debit card servicing bank in India against the charge slip signed by the importer/ as prescribed by Reserve Bank from time to time. Provided that - (a) the transaction for which the payment is so made .....

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as consideration for purchase of gold or silver in any form imported by such person in accordance with the terms and conditions imposed under any order issued by the Central Government under the Foreign Trade (Development and Regulations) Act, 1992 or under any other law, rules or regulations for the time being in force; (iii) a company or resident in India may make payment in rupees to its non whole time director who is resident outside India and is on a visit to India for the company's wor .....

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