Remittance of Salary - Relaxation

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..... lers is invited to Regulation No.7(8) of the Notification No.FEMA 10/2000-RB dated May 3, 2000 as amended by the Notification No.FEMA 34/2001-RB dated January 22, 2001, in terms of which foreign nationals employed in India are permitted to receive upto 75 per cent of their salary by credit to their accounts outside India. 2. On a review of the matter, it has been decided to extend the existing f .....

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..... following conditions : i. the amount to be credited to such account shall not exceed 75 per cent of the salary accrued to or received by such person from the foreign company; ii. the remaining salary shall be paid in Rupees in India; and iii. subject to applicable taxes on the entire salary as accrued in India. iv. Authorised Dealers may bring the contents of this circular to the notic .....

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