Foreign currency accounts abroad: Indian entities may hold accounts for overseas offices for normal business operations subject to RBI conditions. Maintenance of foreign currency accounts abroad by Indian entities is permitted for overseas offices, branches or representatives for normal business operations, subject to conditions including prohibition on creating liabilities for the head office, repatriation of surplus funds unless RBI approval is obtained, reporting of the overseas bank account to the authorised dealer, and specified repatriation and reporting requirements for software exporter contracts.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Foreign currency accounts abroad: Indian entities may hold accounts for overseas offices for normal business operations subject to RBI conditions.
Maintenance of foreign currency accounts abroad by Indian entities is permitted for overseas offices, branches or representatives for normal business operations, subject to conditions including prohibition on creating liabilities for the head office, repatriation of surplus funds unless RBI approval is obtained, reporting of the overseas bank account to the authorised dealer, and specified repatriation and reporting requirements for software exporter contracts.
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