Foreign currency payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 December 2016
A foreigner working as industrial trainee in India. Company has paid 1000 Euro to him physically (not through net banking ) Euqualent value in INR it is Rs.77000/- (approx)
Can It do so ? (Section 40(A) 3 specifies only about INR)
What about FEMA ?
Please give response with reference to applicable provisions or guidelines.
Can It do so ? (Section 40(A) 3 specifies only about INR)
What about FEMA ?
Please give response with reference to applicable provisions or guidelines.
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 December 2016
Section 3 of FEMA prohibits certain transactions. and section 13 will penalise for contraventions.
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