Friends, I have a FEMA query. If a foreign citizen works in India and goes back after his work permit ends, can he take the money he earned in India back with him ? What are the FEMA regulations with respect to this ? What forms etc does he have to fill ?
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Fema query
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A foreign citizen can take back the money he has earned in India provided Income Tax has bben deducted on that income.If he is a Salried employee, at the the time of departure from India he has to submit a undertaking from the employer to the effect that tax payable by employee shall be paid by the employer
.On the basis of the said undertaking, income tax authority will grant a No Objection Certificate to leave India.
There is no need to obtain "No Objection Certificate to leave India." Just need to ensure and prove to BANK that all the due taxes have been paid.
Anuj
femaquery @ gmail.com
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