TMI BlogTransaction which required Prior approval of Reserve Bank - Rule 5X X X X Extracts X X X X X X X X Extracts X X X X ..... III shall be governed as provided therein: Exception:- This rule shall not apply where the payment is made out of funds held in Resident Foreign Currency (RFC) Account of the remitter. SCHEDULE III - Foreign Exchange Management (Current Account Transaction) Rules 2000 1. Facilities for individuals- 1.1 Individuals can avail of foreign exchange facility for the fol ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Exception The purposes mentioned at item numbers (iv), (vii) and (viii), the individual may avail of exchange facility for an amount in excess of the USD 2,50,000/- under the Liberalised Remittance Scheme (LRS) as provided in regulation 4 of - Prohibition - Foreign Exchange Management (Permissible Current Account Transaction) Rules 2000 . [ FEMA Notification 1/2000-RB, dated the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ry after deduction of taxes, contribution to provident fund and other deductions. Explanation: For the purpose of this item, a person resident in India on account of his employment or deputation of a specified duration (irrespective of length thereof) or for a specific job or assignments, the duration of which does not exceed three years, is a resident but not permanently resident: A Per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e donor Company. Commission to agents abroad for sale of residential flats or commercial plots in India exceeding USD 25,000 or 5% of the inward remittance whichever is more . Note:- Calculate above limit per transaction. For any consultancy services in respect of infrastructure projects Remittances exceeding USD 10,000,000 per project and For othe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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