Can BO/PO/LO have one more account with another AD bank (Agency bank for tax payment) for statutory payments when the AD with whom the account is maintained is not the agency bank?
Liaison / Branch / Project Offices of foreign entities in India - As on Dec 26, 2016
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BO/PO/LO additional account permitted for agency bank use to facilitate statutory payments under FEMA guidance. Under FEMA guidance, liaison, branch, and project offices of foreign entities in India may maintain one additional account with another authorized dealer ... Summary
BO/PO/LO additional account permitted for agency bank use to facilitate statutory payments under FEMA guidance.
Under FEMA guidance, liaison, branch, and project offices of foreign entities in India may maintain one additional account with another authorized dealer bank to act as the agency bank for statutory payments when their primary authorized dealer is not the designated agency bank.
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