Can agents of overseas shipping or airline companies continue to maintain foreign currency account with the designated AD Bank in India after such airline or shipping companies have set up BO in India?
Liaison / Branch / Project Offices of foreign entities in India - As on Dec 26, 2016
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Foreign currency account continuation allowed for agents, provided branch offices transact only through designated INR accounts. Agents of overseas shipping or airline companies may continue to maintain foreign currency accounts with the designated authorised dealer after the ... Summary
Foreign currency account continuation allowed for agents, provided branch offices transact only through designated INR accounts.
Agents of overseas shipping or airline companies may continue to maintain foreign currency accounts with the designated authorised dealer after the principal sets up a Branch Office in India, provided the Branch Office limits its transactions to its designated INR account and does not channel any of its receipts or payments through the agent's foreign currency account.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
