In accordance with the Foreign Exchange Management Act, 1999, a resident outside India is not allowed to hold a savings account in India. When a person resident in India leaves for: his residential status changes to Resident outside India and his existing account should be changed to Non-resident Ordinary (NRO) Account. In accordance with Foreign […]
EPCG authorisation/scheme is a very lucrative and gainful scheme if it is used rightly by the eligible company/firm. In our varied sectors of experience, we have observed that due to convolutions in the computation and maintenance of Average Export Obligation under the EPCG scheme, many companies had to return duty saved under the EPCG authorization and […]
Non-Resident Individuals (NRIs) contribution to India’s financial, social and economic condition is significant. Inward remittances by NRI either through remittances or investments augment the foreign exchange reserves of India and strengthen the national savings. The sheer size of the remittance enables not only in remittances but also transfer of technology, global best practices & knowledge. […]