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          FEMA

          Can foreign exchange earnings received through an international credit card be credited to the EEFC account?

          Exchange Earners Foreign Currency (EEFC) Account - As on Jul 05, 2016

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          Foreign exchange earnings via international credit card can be credited to EEFC account if reimbursed in foreign exchange. Foreign exchange earnings received through an international credit card may be credited to an Exchange Earners Foreign Currency (EEFC) account provided the card receipts are reimbursed in foreign exchange, and are thereby regarded as remittance through the normal banking channel for EEFC crediting purposes.
                            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 exchange earnings via international credit card can be credited to EEFC account if reimbursed in foreign exchange.

                                  Foreign exchange earnings received through an international credit card may be credited to an Exchange Earners Foreign Currency (EEFC) account provided the card receipts are reimbursed in foreign exchange, and are thereby regarded as remittance through the normal banking channel for EEFC crediting purposes.


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