How much foreign currency cash in hand a company can keep. Is there any refernce to law to provide such details?
Gunjan Singhal (Senior) (27 Points)
19 November 2018How much foreign currency cash in hand a company can keep. Is there any refernce to law to provide such details?
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 19 November 2018
There is no specified limit of Cash in hand of Foreign exchange currency.
Ronish Baxter
(CA)
(104 Points)
Replied 20 November 2018
There is no limit for a company. It also depends on the nature of business.
Gunjan Singhal
(Senior)
(27 Points)
Replied 21 November 2018
My company is a textile manufacturer, we have bought foreign currency for travelling purposes and remaining foreign currency company kept as cash in hand for future use. So I want to know whether it is legal to hold foreign currency by company? If yes,then what is the upper limit upto which a company can hold forex cash? Pl share reference to law.
CAclubindia
