https://www.taxtmi.com/circulars?id=2640 Authorised Dealer Category I banks may permit drawal of foreign exchange for reimbursement of pre-incorporation expenses up to a higher prescribed ceiling - computed as a proportion of investment brought into India or a fixed benchmark amount, whichever is higher - on the basis of certification by statutory auditors, pending formal amendment of the Current Account Transactions Rules; banks should notify constituents and note that the directions are issued under statutory powers and without prejudice to other legal permissions. en-us Mon, 30 Apr 2007 00:00:00 +0530 Mon, 06 Oct 2008 12:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2640 Authorised Dealer Category I banks may permit drawal of foreign exchange for reimbursement of pre-incorporation expenses up to a higher prescribed ceiling - computed as a proportion of investment brought into India or a fixed benchmark amount, whichever is higher - on the basis of certification by statutory auditors, pending formal amendment of the Current Account Transactions Rules; banks should notify constituents and note that the directions are issued under statutory powers and without prejudice to other legal permissions. Circulars FEMA Mon, 30 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2640