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TMI BlogForeign Exchange Management Act (FEMA), 1999 – Current Account Transactions – LiberalisationX X X X Extracts X X X X X X X X Extracts X X X X ..... Authorised Dealers in Foreign Exchange Madam/Sirs, Foreign Exchange Management Act (FEMA), 1999 - Current Account Transactions - Liberalisation Attention of Authorised Dealers (ADs) is invited to Annexure I of A.D. (M.A. Series) Circular No.11 dated May 16, 2000 with regard to Rules relating to Current Account Transactions. 2. As a step towards further liberalisation, it has been decided ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Schedule III, remittance by way of commission to agents abroad for sale of residential flats/commercial plots in India, exceeding 5 per cent of the inward remittance requires RBI's approval. ADs may freely allow such remittances upto USD 25,000 or 5 per cent of the inward remittance, per transaction, whichever is higher. (iv) Short-term Credit to Overseas Offices of Indian Companies In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es for royalty and payment of lump-sum fee provided the payments are in conformity with the norms as per item No.8 of Schedule II i.e. royalty does not exceed 5 per cent on local sales and 8 per cent on exports and lump-sum payment does not exceed USD 2 million. (vii) Remittance for Use and/or Purchase of Trademark/Franchise in India . In terms of item No.16 of Schedule III, RBI's prior ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s to the Foreign Exchange Management (Current Account Transactions) Rules, 2000 are being notified separately. 4. Authorised Dealers may bring the contents of this circular to the notice of their constituents concerned. 5. The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999). Yours faithfully, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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