Fema 2012

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Querist : Anonymous

Querist : Anonymous (Querist)

24 April 2012 By converting from dollars to rupees for our local expenses, is it a violation of FEMA?

Ajay Mishra

Ajay Mishra (Expert)
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24 April 2012 Hi

No, there is no violation, but yes, the RBI should have knowledge about that you have foreign currency and how you received it.

Regards

Ajay Mishra

Ajay Mishra (Expert)
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24 April 2012 Hi

No, there is no violation, but yes, the RBI should have knowledge about that you have foreign currency and how you received it.

Regards

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

24 April 2012 1.Is there any restriction as claimed by K Line that we will be violating the FEMA, in case we pay them in INR.
Answer given

2.Please let us know payment to person working on Anchor Handling Vessel
registered under Foreign Flag on Indian water can be made in U.S.Dollar
or to be paid in Indian Rupees.

3.By converting from dollars to rupees for our company local expense, is it a violation of FEMA?

Vishal D Shah

Vishal D Shah (Expert)
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31 May 2012 For second question raised, Dont foresee any issues if payment made in either currency.

regards.. cavishalshah@gmail.com

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