Fema issue
This query is : Resolved
CA Navinkumar Mishra
(Querist)
05 June 2012
CAN RESIDENT PERSON MAKE PAYMENT IN DOLLAR TO ANOTHER RESIDENT PERSON FOR SERVICE RENDERED??
Amol S Joglekar
(Expert)
05 June 2012
YES... The US resident can make payment in $ to another US resident for services rendered in US. HAPPY?
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CA Navinkumar Mishra
(Querist)
05 June 2012
CAN INDIAN RESIDENT MAKE PAYMENT TO ANOTHER INDIAN RESIDENT?
Ca Anand Dubey
(Expert)
05 June 2012
Good question naveen, Generally not but depending upon the transaction can be paid through authorised dealer/ bank in Rupees equivalent. Rs. is made to execute the transaction in India even exporter raise bill in foreign currency but they Get Rs. equvalent. Although payment in foreign currency by resident to resident not clearly restricted but its implied because in normal case a resident even can not open foreign currency a/c with banks .
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