Eligibility of sec.80-O of Income Tax Act 1961.

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..... foreign exchange which is, for time being, treated by the RBI as convertible foreign exchange. A list of currencies which are so recognised by the RBI was given in Boards instruction No.797 (F.No.473/5/FTD dt.23-11-74). 2. In order to update this list, the RBI were requested to furnish the latest list of currencies recognised by them as convertible currency. The RBI have however clarified that .....

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..... exchange. 3. Thus all remittances to India from countries other than Nepal and Bhutan may be treated as remittance in a convertible currency to India provided they are supported by certificates issued by authorised dealers in foreign exchange confirming inter alia that the remittances have been received in a manner which is in conformity with the exchange control regulations[So far as payments .....

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