https://www.taxtmi.com/circulars?id=7685 Use of international debit, store value, charge and smart cards by resident Indians abroad is allowed solely for permissible current account transactions and is subject to the item-wise and overall limits under the Foreign Exchange Management (Current Account Transactions) Rules. IDCs may be used for overseas cash withdrawals and merchant payments within those limits but not for internet purchases or activities for which drawal of foreign exchange is prohibited. AD banks must comply with documentation requirements and submit an annual proforma statement when aggregate IDC utilisation by holders exceeds the prescribed reporting threshold. en-us Tue, 14 Jun 2005 00:00:00 +0530 Fri, 25 Sep 2009 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=7685 Use of international debit, store value, charge and smart cards by resident Indians abroad is allowed solely for permissible current account transactions and is subject to the item-wise and overall limits under the Foreign Exchange Management (Current Account Transactions) Rules. IDCs may be used for overseas cash withdrawals and merchant payments within those limits but not for internet purchases or activities for which drawal of foreign exchange is prohibited. AD banks must comply with documentation requirements and submit an annual proforma statement when aggregate IDC utilisation by holders exceeds the prescribed reporting threshold. Circulars FEMA Tue, 14 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/circulars?id=7685