https://www.taxtmi.com/circulars?id=1830 Remittances in foreign currency to operators of schemes that pay for recruiting new members are prohibited as money circulation; authorised dealers must refuse such remittances but may allow payment for an unconditional website purchase if satisfied the buyer will develop it for business and not to add members, after verifying the bonafides of the overseas seller and the scheme through proper documents. en-us Thu, 07 Dec 2000 00:00:00 +0530 Fri, 03 Oct 2008 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1830 Remittances in foreign currency to operators of schemes that pay for recruiting new members are prohibited as money circulation; authorised dealers must refuse such remittances but may allow payment for an unconditional website purchase if satisfied the buyer will develop it for business and not to add members, after verifying the bonafides of the overseas seller and the scheme through proper documents. Circulars FEMA Thu, 07 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1830