$ 1million Foreign Remittance per project w/o RBI approval is PER PAYEE or not, FEMA

[Pawan Sehrawat]

Hi all, I have a minor confusion.

RBI approval required for Remittances exceeding US$ 10,000,000 per project for any consultancy services in respect of infrastructure projects and US$ 1,000,000 per project, for other consultancy

services procured from outside India.

 

My silly question is, limit is PER PAYEE or for all payee's taken together.

 

thanks in advance.

 

Pawan Sehrawat

Posts / Replies

[MARIAPPAN GOVINDARAJAN]

Whatever it may be, it is related to per project.