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of <h1>RBI to Independently Review Foreign Entities' Head Office Expense Claims to Safeguard Forex Resources per Circular.</h1> The circular emphasizes the need for improved coordination among the Ministry of Finance departments regarding the scrutiny of claims for head office expenses by foreign entities. The Public Accounts Committee highlights this in their reports, urging the Reserve Bank of India to play a more active role in safeguarding foreign exchange resources. An inter-departmental meeting concluded that the Reserve Bank should independently review these claims, even if previously accepted by the Income-tax Department. If discrepancies are found, corrective measures must be taken. The Reserve Bank's opinions should be considered in pending income-tax assessments to ensure accuracy and prevent misuse.
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