https://www.taxtmi.com/forum/issue?id=2264 A resident Indian named beneficiary cannot generally maintain foreign currency accounts except where expressly permitted; an exception allows holding foreign exchange received by inheritance, which may apply to funds transferred from a foreign national's bank after death. The resident's question about using a domestic foreign-currency account to receive such remittance raises related procedural and taxation considerations. en-us Wed, 29 Sep 2010 08:57:50 +0530 Thu, 23 Jan 2025 15:58:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=2264 A resident Indian named beneficiary cannot generally maintain foreign currency accounts except where expressly permitted; an exception allows holding foreign exchange received by inheritance, which may apply to funds transferred from a foreign national's bank after death. The resident's question about using a domestic foreign-currency account to receive such remittance raises related procedural and taxation considerations. Discussion-Forum FEMA Wed, 29 Sep 2010 08:57:50 +0530 https://www.taxtmi.com/forum/issue?id=2264