On 16th May 2023, Department of Economic Affairs, Ministry of Finance issued a notification making an amendment to the Foreign Exchange Management (Current Account Transactions) Rules, 2000. The notification omitted Rule 7 of the Foreign...Read More
Round-tripping means a combination of transactions involving transfer of money across jurisdictions, eventually resulting in a return to the jurisdiction of origin. Simply, for example, an Indian entity sets up a subsidiary outside in the...Read More
Non Resident Indians (NRIs) always scout for options to invest their foreign exchange earnings in the Indian market. Investment in real estate has always been the preferred choice for the NRIs, especially after the rupee...Read More
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: Employment outside India; or...Read More
