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          FEMA

          What is a foreign currency account?

          Foreign Currency Accounts by Resident Individuals - As on Aug 01, 2016

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          Foreign currency account: accounts in currencies other than India, Nepal, or Bhutan qualify as foreign currency accounts under FEMA guidance. A foreign currency account under FEMA is an account held or maintained in a currency other than the currency of India, Nepal, or Bhutan; this definition applies to resident individuals and establishes the currency-based distinction that determines regulatory treatment under FEMA guidance.
                            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 account: accounts in currencies other than India, Nepal, or Bhutan qualify as foreign currency accounts under FEMA guidance.

                                  A foreign currency account under FEMA is an account held or maintained in a currency other than the currency of India, Nepal, or Bhutan; this definition applies to resident individuals and establishes the currency-based distinction that determines regulatory treatment under FEMA guidance.


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