https://www.taxtmi.com/circulars?id=2638 AD Category I banks may authorise corporate remittances for creation of chairs in reputed educational institutes, donations to funds promoted by educational institutes (not investment funds), and donations to technical institutions or bodies in the donor's field, subject to a cap of one percent of foreign exchange earnings over the previous three financial years or a prescribed upper monetary limit, whichever is less. Remittances for other purposes require submission to the Reserve Bank with details of foreign exchange earnings for the last three years, company background, donation purpose and likely corporate benefits. Existing small value donor facility continues. en-us Mon, 30 Apr 2007 00:00:00 +0530 Mon, 06 Oct 2008 12:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2638 AD Category I banks may authorise corporate remittances for creation of chairs in reputed educational institutes, donations to funds promoted by educational institutes (not investment funds), and donations to technical institutions or bodies in the donor's field, subject to a cap of one percent of foreign exchange earnings over the previous three financial years or a prescribed upper monetary limit, whichever is less. Remittances for other purposes require submission to the Reserve Bank with details of foreign exchange earnings for the last three years, company background, donation purpose and likely corporate benefits. Existing small value donor facility continues. Circulars FEMA Mon, 30 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2638