Foreign currency accounts: startups may receive export proceeds abroad but must repatriate export balances within prescribed realisation period. Indian startups meeting prescribed eligibility may open an overseas foreign currency account to receive foreign exchange from exports or sales by the startup or its overseas subsidiary, with balances representing exports to be repatriated within the export realisation period; such foreign exchange may alternatively be credited to the startup's Exchange Earners Foreign Currency (EEFC) account in India.
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: startups may receive export proceeds abroad but must repatriate export balances within prescribed realisation period.
Indian startups meeting prescribed eligibility may open an overseas foreign currency account to receive foreign exchange from exports or sales by the startup or its overseas subsidiary, with balances representing exports to be repatriated within the export realisation period; such foreign exchange may alternatively be credited to the startup's Exchange Earners Foreign Currency (EEFC) account in India.
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