9911796707
TMI BlogSCHEDULE IX X X X Extracts X X X X X X X X Extracts X X X X ..... represents foreign currency loan raised or investment received from outside India or those received for meeting specific obligations by the account holder; ii) payments received in foreign exchange by a 100 per cent Export Oriented Unit or a unit in (a) Export Processing Zone or (b) Software Technology Park or (c) Electronic Hardware Technology Park for supply of goods to similar such unit or to a unit in Domestic Tariff Area and also payments received in foreign exchange by a unit in Domestic Tariff Area for supply of goods to a unit in Special Economic Zone (SEZ); iii) payments received by an exporter from an account maintained with an authorised dealer for the purpose of counter trade, in accordance with the approval granted in terms ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - i) Inward remittance/ payment received by the recipient in foreign exchange subject to the provisions of paragraph (1); ii) Interest earned on the funds held in the account; iii) Re-credit of unutilised foreign currency earlier withdrawn from the account; iv) Amount representing repayment by the account holder's importer customer, of loan/ advances granted in terms of clause (iv) of Paragraph 3. v) Representing the disinvestment proceeds received by the resident accountholder on conversion of shares held by him to ADRs/ GDRs under the DR Scheme, 2014 approved by the Government of India 3. Permissible debits to the EEFC account Following debits may be made to an EEFC Account, namely - i) Payment outside India towards a cu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cheque is permissible under these Regulations. (iii) Resident individuals are permitted to include resident relative(s) as a joint holder(s) in their EEFC account on 'former or survivor' basis. However, such resident Indian relative(s) shall not be eligible to operate the account during the life time of the resident account holder. Explanation - For the purpose of this sub-regulation, 'relative' means relative as defined in section 2(77) of the Companies Act, 2013. *************** NOTES:- 1. Inserted vide Notification No. 10(R)/(1)/2016-RB - dated 1-6-2016 2. Substituted vide Notification No. FEMA 10 (R)/(4)/2024-RB dated 19-11-2024 before it was read as, "Explanation: For the purpose of this schedule a 'startup' means an en ..... X X X X Extracts X X X X X X X X Extracts X X X X
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