Home Acts & Rules FEMA Rules Foreign Exchange Management (Current Account Transactions) Rules, 2000 This
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SCHEDULE I - See Rule 3 - Transactions which are prohibited - Foreign Exchange Management (Current Account Transactions) Rules, 2000Extract SCHEDULE I (See rule 3) Transactions which are prohibited 1. Remittance out of lottery winnings. 2. Remittance of income from racing/riding, etc. or any other hobby. 3. Remittance for purchase of lottery tickets, banned/ prescribed magazines, football pools, sweepstakes, etc. 4. Payments of commission on exports made towards equity investment in joint ventures/wholly owned subsidiaries abroad of Indian companies. 5. Remittance of dividend by any company to which the requirement of dividend balancing is applicable. 6. Payment of commission of exports under Rupee State Credit Route, except commission up to 10% of invoice value of exports of tea and tobacco. 7. Payment related to Call Back Services of telephones. 8. Remittance of interest income on funds held in Non-Resident Special Rupee (Account) Scheme.
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