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hindustantimes's picture

Finance Bill amendments: What the key changes mean for us

From: Hindustan Times Recommended by: Hindustan times The finance ministry moved on Tuesday as many as 40 amendments to the finance bill, in an unusual step. The amendments, over and above the proposed changes in the budget 2017, aim
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dominic's picture

FEMA ( Foreign Exchange Management Act 1999) and You - Series 1 (4) – Personal:

We often wish that we could hold accounts in the currency of our choosing. The good news is we are getting there. India in now convertible on current account, while we are partially convertible on capital account. More in later posts on current
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dominic's picture

FEMA ( Foreign Exchange Management Act 1999) and You - Series 1 Sub 7 – Personal by Dominic Christy DAC Consulting

Documentation for remittance in case of individuals: The Reserve Bank does  not, generally, prescribe the documents that should be submitted to  Authorised Dealers while releasing foreign exchange. Any person wanting to transact in
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dominic's picture

FEMA ( Foreign Exchange Management Act 1999) and You - Series 1 Sub 5 – Personal : by Dominic Christy - DAC Consulting.

As an individual can you invest in companies overseas? The LRS (Liberalised remittance scheme) prohibits remittance by a resident individual for setting up a company abroad. What is allowed is. Resident individuals are free to acquire
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dominic's picture

SERIES Z (2) : MISC: INTERNATIONAL CREDIT CARD USAGE: by Dominic Christy - DAC Consulting & Associates

SERIES Z (2) : MISC:  INTERNATIONAL CREDIT CARD USAGE: The author:  Dominic Christy  a professional banker for over 23 years  and  now Chief consultant of DAC Consulting & Associates brings abundant
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dominic's picture

FEMA ( Foreign Exchange Management Act 1999) and You - Series 1 Sub 3 – Personal:

Dear Reader, Continuing my previous post, I have been asked several times as to why FEMA should to be feared.  Gone are the days of FERA. First and foremost, the law is the law and ignorance of law is no excuse. FEMA may not be punitive
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dominic's picture

FEMA ( Foreign Exchange Management Act 1999) and You - Series 1 Sub 2 – Personal - Currency Convertibility:

India is convertible on current account. What does it mean? For day to day expenditure subject to certain restrictions on banned uses which includes but is not limited to sweep stake and lottery, call back charges, residents in India can freely
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dominic's picture

SERIES Z (1) : MISC TIPS: TRADING IN FOREIGN CURRENCY - FEMA AND YOU ( FOREIGN EXCHANGE MANAGEMENT ACT 1999)

  Dear Readers, Seen any of these enticing advertisements to make money while sitting at home in Forex trading and example of which is given below:- YOU CAN MAKE BIG MONEY BY Forex $$$!! ! FREE SIGN UP, FREE REAL MONEY START
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dominic's picture

FEMA ( Foreign Exchange Management Act 1999) and You - Series 1 – Personal remittances

  Are you affected by FEMA. Yes! is the resounding answer. At any point of time we are all exposed to this ACT in some way or another. Be it purchase of Foreign currency for your travel, receipt of a gift from your friends or relatives