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of <h1>FEMA Circular Eases Corporate Donation Remittances; New Limits Set at 1% of Forex Earnings or USD 5 Million.</h1> The circular issued under the Foreign Exchange Management Act (FEMA), 1999, addresses the liberalization of remittance procedures for corporate donations. Authorized Dealer Category-I banks can now remit donations by corporates for specific purposes, such as creating chairs in educational institutions, donating to educational funds, or supporting technical institutions, with limits set at 1% of foreign exchange earnings over the past three years or USD 5 million, whichever is lower. The existing facility allowing remittances up to USD 5000 per donor annually remains unchanged. Amendments to the relevant rules will be notified separately.
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