https://www.taxtmi.com/circulars?id=53917 Ship manning and crew management agencies rendering services to overseas shipping or airline companies may open non interest bearing foreign currency accounts with AD Category I banks in India; credits limited to freight/passage collections or inward remittances from the overseas principal, debits limited to local ship/crew management expenses, no credit facilities against account balances, no EEFC facility, banks to meet reserve requirements, and accounts allowed only during the agreement's validity. en-us Thu, 24 Sep 2015 00:00:00 +0530 Thu, 24 Sep 2015 18:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=53917 Ship manning and crew management agencies rendering services to overseas shipping or airline companies may open non interest bearing foreign currency accounts with AD Category I banks in India; credits limited to freight/passage collections or inward remittances from the overseas principal, debits limited to local ship/crew management expenses, no credit facilities against account balances, no EEFC facility, banks to meet reserve requirements, and accounts allowed only during the agreement's validity. Circulars FEMA Thu, 24 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/circulars?id=53917