https://www.taxtmi.com/circulars?id=8587 Foreign exchange compliance concerning settlement of domestic card payments for airline ticket sales: overseas banks acquiring credit/debit card transactions originating in India and settling them abroad on behalf of foreign airlines is inconsistent with the Foreign Exchange Management Act, 1999 and related regulations permitting repatriation of ticket-sale surpluses only after payment of local expenses and taxes. en-us Tue, 05 Apr 2011 00:00:00 +0530 Tue, 05 Apr 2011 15:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8587 Foreign exchange compliance concerning settlement of domestic card payments for airline ticket sales: overseas banks acquiring credit/debit card transactions originating in India and settling them abroad on behalf of foreign airlines is inconsistent with the Foreign Exchange Management Act, 1999 and related regulations permitting repatriation of ticket-sale surpluses only after payment of local expenses and taxes. Circulars FEMA Tue, 05 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8587