https://www.taxtmi.com/article/detailed?id=13365 Exchange Earners' Foreign Currency (EEFC) Account allows residents to maintain a non interest current account in foreign currency with authorised dealer Category I banks under the Exchange Earners' Scheme. The account admits a specified list of permissible credits-inward remittances via normal banking channels, export receipts from designated export regimes, professional earnings, advance export receipts, certain counter trade and re credits-and permissible debits for permitted current/capital transactions, purchases from specified export units, customs duty, trade related loans, and payments to residents for goods/services. Withdrawals in rupees are unrestricted but cannot be reconverted; balances can be hedged subject to earmarking for delivery. en-us Tue, 21 Jan 2025 14:17:37 +0530 Tue, 21 Jan 2025 14:17:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13365 Exchange Earners' Foreign Currency (EEFC) Account allows residents to maintain a non interest current account in foreign currency with authorised dealer Category I banks under the Exchange Earners' Scheme. The account admits a specified list of permissible credits-inward remittances via normal banking channels, export receipts from designated export regimes, professional earnings, advance export receipts, certain counter trade and re credits-and permissible debits for permitted current/capital transactions, purchases from specified export units, customs duty, trade related loans, and payments to residents for goods/services. Withdrawals in rupees are unrestricted but cannot be reconverted; balances can be hedged subject to earmarking for delivery. Articles FEMA - Foreign Exchange Management Tue, 21 Jan 2025 14:17:37 +0530 https://www.taxtmi.com/article/detailed?id=13365