Advisory - Full Fledged Money Changers (FFMC).

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..... In exercise of the powers conferred by clause (v) of proviso to section 194N of the Income-tax Act, 1961 (43 of 1961), the Central Government, after consultation with the Reserve Bank of India (RBI), hereby specifies,- (a) the authorised dealer and its franchise agent and sub-agent; and (b) Full-Fledged Money Changer (FFMC) licensed by the Reserve Bank of India and i .....

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..... r guidelines issued by the Reserve Bank of India have been adhered to. Explanation - For the purposes of this notification, authorised dealer means a person authorised as an authorised dealer under sub-section (1) of section 10 of the Foreign Exchange Management Act, 1999 (42 of 1999). 2. The notification shall be deemed to have come into force with effect f .....

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