06 February 2008
Plz specify, in what checklist you required, whether for making the payment in respect of import or export documentation list, or something else, be specific.
09 February 2008
Following checklist 1) to open eefc ,current & capital under fema act 2) inward & outward remittance of foreign exchange 3) ceilings on f.e 4) format report on the above
05 March 2008
Documentaion for outward Remittance if payment is in respect of import then below document is required to make the payment:- -Request Letter including -fema declaration u/s 10(6) of FEMA -exchange control copy of bill of entry (essential if amount of remittance is more than usd 1,00,000/-)(as per-Import Master Circular.) -Import licence exchange control copy and if good is covered under open general licence then open general licence declaration -A certificate of import export code. -invoice -bill of lading - form A1 - other related document if any
If remittance is in respect of service then -request letter -fema declaration -form A-2 -invoice if there is any -annexure A & B (depened on type of payment) -agreement copy (depend on type of payment)
05 March 2008
ceiling is as under -private visits = usd 10,000/- p.a. -Gift remittance = usd 5,000/-p.a. -Donation = usd 5,000/- p.a. -going abroad for employment = usd 100,000/- -emigration = usd 100,000/- -disposal salary for remittor for maintance of close relative subject to usd 100,000/-p.a. and per recipient -business travel, or attending a conference or specialised training or for maintenance expenses of a patient going abroad for medical treatment or check-up abroad, or for accompanying as attendant to a patient going abroad for medical treatment/check-up=usd25000/- -studies abroad = usd 1,00,000/- per academic year -Commission, per transaction, to agents abroad for sale of residential flats or commercial plots in India exceeding USD 25,000 or 5% of the inward remittance -CONSULTANCY SERVICE = USD 10,00,000/- -reimbursement of pre-incorporation expenses=USD 1,00,000/-
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