Tuesday, March 6, 2007

Earnings in foreign exchange

Payment for services is received in free foreign exchange or in Indian Rupees which are otherwise considered as having been paid for in free foreign exchange by RBI. The earning in the preceding financial year or current financial year should be al least Rs 10 Lakhs.

For individuals, earnings in foreign exchange is required to be at least Rs 5 Lakhs in the preceding financial year

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