Small value remittances: simplified declaration allows authorised dealers to release foreign exchange for permissible purposes. Authorised dealers may effect small-value remittances for permissible purposes on the basis of a simple signed letter containing remitter and beneficiary details, amount and purpose; submission of the A2 Form need not be insisted upon. No supporting documents are required where payment is by cheque on the remitter's account or by demand draft, provided the authorised dealer reasonably satisfies himself that the transaction is not designed to contravene FEMA.
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.
Small value remittances: simplified declaration allows authorised dealers to release foreign exchange for permissible purposes.
Authorised dealers may effect small-value remittances for permissible purposes on the basis of a simple signed letter containing remitter and beneficiary details, amount and purpose; submission of the A2 Form need not be insisted upon. No supporting documents are required where payment is by cheque on the remitter's account or by demand draft, provided the authorised dealer reasonably satisfies himself that the transaction is not designed to contravene FEMA.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
