TaxTMI 
TaxTMI 
Foreign Exchange Management Act, 1999 - Guidelines for Compilation of R-Returns
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....ansactions and also a list of purpose codes to be used for filling up the cover page of R-Return are enclosed as Annexure II, Annexure III & Annexure IV. 3. It has also been decided to simplify the procedures and documentation formalities in respect of non-import remittances. Accordingly, in consultation with FEDAI, the A-2 form has been modified to incorporate the application form and the declaration in terms of Section 10(5) of FEMA, 1999 and the specimen form is enclosed as Annexure V. The customer will be required to submit only this form in respect of permissible transactions pertaining to individuals up to a limit of USD 5000 as per our AP DIR circular No 55 dated 23 Dec 2003. For undertaking transactions under the Liberalised Remittance Scheme of USD 25000 for resident individuals, ADs may be guided by the instructions conveyed in our AP DIR No 64 dated February 4, 2004. As regards other transactions, apart from Form A2 as at Annexure V, the AD may call for additional information and documents as may be required. In respect of regular corporate customers, the bank may like to obtain one-time declaration under FEMA as per the proforma given in Annexure VI. The objective behi....
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.... against exports (i) Against GR/PP/SOFTEX Forms/SDF of which (a) Bills negotiated under L/C and bills purchased & discounted (b) Bills for collection realised (ii) Advance receipts which will be covered later by GR/PP/SOFTEX Forms/SDF Total of II A(i)(a), II A(i)(b) & II A(ii) B. Purchases from Public against third country exports (i.e. intermediary trade not covered by GR/PP/SOFTEX Forms/SDF C. Purchases from Public other than against exports (i) Below equivalent of Rs.5 lakh (ii) Equivalent of Rs. 5 lakh and above Total of II C (i) and II C (ii) D. Purchases from other Authorised Dealers in India Total Inflows (Total of IIA, IIB, IIC and IID) (For 'A' Category Branches only) * * E. Purchases from Reserve Bank of India * * F. Purchases from overseas banks and branches * * * G. Aggregate purchases at branches (Reporting directly to Reserve Bank) by adjustment through Head Office/Link Office Total of IIA to IIG Items III C to III H and IV C to IV H on the following page are for 'A' category branches only. Balances against various accounts are to be shown as per respective mirror accounts maintained locally. - 3 - III. Opening Balance (closing b....
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....al Debits (3) + (4) + Exports Payments to Public nsactions (7)+ (8) + Below Rs.5 Rs.5 lakh lakh & above Below Rs.5 lakh & above Rs.5 lakh Below Rs.5 lakh Rs.5 lakh & above (1) (3) (a) (b) (4) (5) (6) (7) (b) A) Banks Sub-Total (A) B) Private Exchange Houses Sub-Total (B) GRAND TOTAL (8) (10) (11) (b) 2 We hereby certify that (a) the figures reported in the above Return are true and correct; (b) all the transactions effected by us and by our branches on the non-resident bank accounts maintained by us during the reporting period to which this Return relates have been reported in this Return; (c) no remittance forms and GR/PP/SOFTEX/SDF pertaining to any of the previous periods or the current period are outstanding with us; (d) all the R-Returns pertaining to the earlier periods have been submitted to the Reserve Bank. Place STAMP #Signature Name and Designation of Authorised Official Name of the AD & Branch [# This certificate must invariably be signed by the official holding charge of the branch or by a person of status not lower than Scale IV Officer] Document 3 01 ì˜ NEW PURPOSE CODES FOR REPORTING FOREX TRANSACTIONS RECEIP....
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....erational leasing (with crew) - Shipping companies Receipts of surplus freight/passenger fare by Indian Airlines companies operating abroad. P0208 Receipt on account of operating expenses of Foreign Airlines P0211 * companies operating in India Purchases on account of operational leasing (with crew) -Airlines companies P0213 Receipts on account of other transportation Travel P0301 services (stevedoring, demurrage, port handling charges etc). ' Purchases towards travel (Includes purchases of foreign TCs, currency counter, by hotels, : notes etc over the hospitals, Emporiums, Educational institutions etc. as well as amount received by TT/SWIFT transfers or debit. Purpose Group Group No. Name Purpose Code P0308 Description FC surrendered by returning Indian tourists. 04 Communication P0401 Postal services Service P0402 Courier services P0403 Telecommunication services P0404 Satellite services 05 99 Construction -P0501 06 90 Service Insurance Receipts for cost of construction of services projects in India P0601 Receipts of life insurance premium Service P0602 Receipts of freight insurance - relating to import export of good....
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.... Other services not included elsewhere Audio-visual and related services -services and associated fees related to production of motion pictures, rentals, fees received by actors, directors, producers and fees for distribution rights. Personal, cultural services such as those related to museums, libraries, archives and sporting activities and fees for correspondence courses of Indian Universities/Institutes Group Purpose Group - Purpose No. Name Code 12 Government, not P1201 included elsewhere (G.n.i.e.) P1203 13 Transfers P1301 P1302 P1303 P1304 Description Maintenance of foreign embassies in India Maintenance of international institutions such as offices of IMF mission, World Bank, UNICEF etc. in India. Inward remittance from Indian nonresidents towards family maintenance and savings Personal gifts and donations Donations to religious and charitable institutions in India Grants and donations to governments and charitable institutions established by the governments Receipts/Refund of taxes Compensation of employees P1306 14 Income P1401 P1403 Inward remittance towards interest on loans extended to non-residents (ST/MT/LT loans) P....
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....mpanies operating abroad. S0203 Freight on imports - Shipping companies S0204 Freight on exports - Shipping companies S0205 Operational leasing (with crew) -Shipping companies S0206 Booking of passages abroad -Shipping companies S0207 Payments for surplus freight/passenger fare by foreign Airlines companies operating in India, S0208 Operating expenses of Indian Airlines companies operating abroad S0209 Freight on imports Airlines companies S0210 Freight on exports Airlines companies S0211 Operational leasing (with crew) -Airlines companies S0212 Booking of passages abroad - Airlines companies S0213 Payments on account of stevedoring, demurrage, |port handling charges etc. Remittance towards Business travel. 03 Travel S0301 S0302 Travel under basic travel quota (BTQ) S0303 Travel for pilgrimage S0304 Travel for medical treatment S0305- Travel for education (including fees, lostel expenses etc.) S0306 Other travel (international credit cards) 04 Communica-tion S0401 Postal services Service S0402 Courier services S0403 Telecommunication services S0404 Satellite services Group No. 05 Purpose Group Name Construction Servic....
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....g of harvest yields, forestry services, mining services like analysis of ores etc. S1011 S1012 S1013 S1019 |S1101 S1102 |Payments for maintenance of offices Abroad Distribution services Environmental services Other services not included elsewhere Audio-visual and related services -services and associated fees related to production of motion pictures, rentals, fees received by actors, directors, producers and fees for distribution rights. Personal, cultural services such as those related to museums, libraries, archives and sporting activities; fees for correspondence courses abroad. Maintenance of Indian embassies abroad 12 Government not S1201 included elsewhere |(G.n.i.e.) SI 202 Remittances by foreign embassies in India 13 Transfers S1301 Remittance by non-residents towards family maintenance and savings Group No. Purpose Group Name Purpose Code Description S1302 Remittance towards personal gifts and donations S1303 Remittance towards donations to religious and charitable institutions abroad S1304 S1305 Remittance towards grants and donations to other governments and charitable institutions established by the governments. Contr....
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.... Imports S0101 SO 102 S0103 Group No. Purpose Group Name Purpose Code S0104 S0190 02 Transportation S0201 S0202 Description Intermediary trade Imports below Rs. 500.000- (For use by ECD offices Payments for surplus freight/passenger fare by foreign shipping companies operating in India. Payment for operating expenses of Indian shipping companies operating abroad. S0203 Freight on imports - Shipping companies S0204 Freight on exports - Shipping companies S0205 Operational leasing (with crew) -Shipping companies S0206 Booking of passages abroad -Shipping companies S0207 Payments for surplus freight/passenger fare by foreign Airlines companies operating in India, S0208 Operating expenses of Indian Airlines companies operating abroad S0209 Freight on imports Airlines companies S0210 Freight on exports Airlines companies S0211 Operational leasing (with crew) -Airlines companies S0212 Booking of passages abroad - Airlines companies S0213 Payments on account of stevedoring, demurrage, |port handling charges etc. Remittance towards Business travel. 03 Travel S0301 S0302 Travel under basic travel quota (BTQ) S0303 Travel for ....
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....onsulting services Business and management consultancy and public relations Services Advertising, trade fair, market research and public opinion polling Service Research & Development services Architectural, engineering and other technical services - Agricultural, mining and on-site processing services protection against insects & disease, increasing of harvest yields, forestry services, mining services like analysis of ores etc. S1011 S1012 S1013 S1019 |S1101 S1102 |Payments for maintenance of offices Abroad Distribution services Environmental services Other services not included elsewhere Audio-visual and related services -services and associated fees related to production of motion pictures, rentals, fees received by actors, directors, producers and fees for distribution rights. Personal, cultural services such as those related to museums, libraries, archives and sporting activities; fees for correspondence courses abroad. Maintenance of Indian embassies abroad 12 Government not S1201 included elsewhere |(G.n.i.e.) SI 202 Remittances by foreign embassies in India 13 Transfers S1301 Remittance by non-residents towards family mainten....
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....l of foreign exchange Details of the applicant - Form A2 Application cum Declaration (To be completed by the applicant) I. a. Name b. Address Account No. II. III. C. Details of the foreign exchange required 1. Amount (Specify currency) 2. Purpose Annexure - V I authorise you to debit my Saving Bank/Current/RFC/EEFC Account No.. charges and together with your * a) Issue a draft Beneficiary's Name_ Address * b) Effect the foreign exchange remittance directly - * (d) 1. Beneficiary's Name 2. Name and address of the Bank 3. Account No. Issue travellers cheques for Issue foreign currency notes for (Strike out whichever is not applicable) Declaration (Under FEMA 1999) declare that - Signature I. 1) The total amount of foreign exchange purchased from or remitted through, all sources in India during this calendar year including this application is within USD (USD _only) the annual limit prescribed by Reserve Bank of India for the said purpose. 2) Foreign exchange purchased from you is for the purpose indicated above. (Strike out whichever is not applicable) Date: (The purpose codes are on the reverse) Signature Name AD Code No. Form No....
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....nvestment abroad in real estate Repatriation of Foreign Direct Investment in India- in equity shares Repatriation of Foreign Direct Investment in India- in debt securities Repatriation of Foreign Direct Investment in India in real estate Repatriation of Foreign Portfolio Investment in India in equity shares Repatriation of Foreign Portfolio Investment in India in debt securities Repayment of long and medium-term loans with original maturity above one year received from Non-Residents. Booking of passages abroad - Airlines companies Remittance towards Business travel. Computer and Information Services (08) S0801 S0802 S0803 S0804 S0805 S0806 Hardware consultancy/implementation Software consultancy/implementation Data base, data processing charges Repair and maintenance of computer and software News agency services Other information services newspapers, periodicals Royalties and License Fees (09) S0901 S0902 Subscription to Franchises services - patents, copyrights, trade marks, industrial processes, franchises etc. Payment for use, through licensing arrangements, of produced originals or prototypes (such as manuscripts and films) Other Business Se....