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Remittance exemption for consultancy payments: no prior RBI approval if paid from EEFC accounts under government notification. Where remittances for consultancy services are made out of funds held in Exchange Earners' Foreign Currency (EEFC) accounts, prior approval of the Reserve Bank is not required under the government notification (Rule 6(2)), thereby exempting such EEFC-sourced consultancy payments from the departmental prior-approval requirement.
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Provisions expressly mentioned in the judgment/order text.
Remittance exemption for consultancy payments: no prior RBI approval if paid from EEFC accounts under government notification.
Where remittances for consultancy services are made out of funds held in Exchange Earners' Foreign Currency (EEFC) accounts, prior approval of the Reserve Bank is not required under the government notification (Rule 6(2)), thereby exempting such EEFC-sourced consultancy payments from the departmental prior-approval requirement.
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