TaxTMI 
TaxTMI 
Memorandum of Instructions for Opening and Maintenance of Rupee / Foreign Currency Vostro Accounts of Non-resident Exchange Houses
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....Opening and Maintenance of Rupee / Foreign Currency Vostro Accounts of Non-resident Exchange Houses Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to Part (B) of Annex-I to the A.P. (DIR Series) Circular No. 28 [A. P. (FL/RL Series) Circular No. 02] dated February 6, 2008 on the captioned subject, as amended from time to time. 2. With a view to expanding the s....
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....law. Yours faithfully, (Rudra Narayan Kar) Chief General Manager-in-Charge Annex [Annex-I to A.P.(DIR Series) Circular No.28 A.P.(FL/RL Series) Circular No.02] Earlier guidelines under Part (B) Permitted Transactions of Annex-I Revised guidelines under Part (B) Permitted Transactions of Annex-I Drawing Arrangements with Exchange Houses are primarily designed to channel inw....
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....n-resident Indians. 6. Payments of tuition/ boarding, examination fee etc. to schools, colleges and other educational institutions. 7. Payments to medical institutions and hospitals for medical treatment of NRIs / their dependents and nationals of Gulf Countries in India. 8. Payments to hotels by nationals of Gulf countries / NRIs for their stay. 9. Payments to travel agents for bookin....
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.... in favour of bankers for investments in shares, debentures. 5. Payment to Coop. Housing Societies, Govt. Housing Schemes or Estate Developers for acquisition of residential flats in India in individual names subject to compliance of regulations thereof by the Non-resident Indians. 6. Payments of tuition/ boarding, examination fee etc. to schools, colleges and other educational institutions.....