Current account remittance rules amended to permit transponder hiring charges and set limits for commissions on property sales abroad. The amendment revises Schedules II and III of the Current Account Transactions Rules: it permits remittance of hiring charges of transponders by TV channels and internet service providers; omits specified existing schedule items; replaces item eleven to regulate commission per transaction to agents abroad for sale of residential flats or commercial plots in India by reference to a prescribed threshold; substitutes item sixteen to allow remittance for purchase of trademark or franchise in India.
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Provisions expressly mentioned in the judgment/order text.
Current account remittance rules amended to permit transponder hiring charges and set limits for commissions on property sales abroad.
The amendment revises Schedules II and III of the Current Account Transactions Rules: it permits remittance of hiring charges of transponders by TV channels and internet service providers; omits specified existing schedule items; replaces item eleven to regulate commission per transaction to agents abroad for sale of residential flats or commercial plots in India by reference to a prescribed threshold; substitutes item sixteen to allow remittance for purchase of trademark or franchise in India.
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