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Power of AO to Grant Stay — Whether Discretionary or Controlled By the Instructions and Circulars
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May 2014

A. P. (DIR Series) Circular No. 119 dated 7th April, 2014

By Gaurang Gandhi Chartered Accountant

Reading Time 1 mins

Foreign investment in India in Government Securities

Presently, resident individuals are allowed to book foreign exchange forward contracts, without production of underlying documents, up to a limit of US $ 100,000 on self-declaration basis, to hedge/ manage their actual/anticipated foreign exchange exposures.

This circular now permits all resident individuals, firms and companies, to book foreign exchange forward contracts, up to US $ 250,000 on the basis of a simple declaration (as per format annexed to this Circular) without any requirement of further documentation, to hedge/manage their actual or anticipated foreign exchange exposures.

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May 2014

A. P. (DIR Series) Circular No. 119 dated 7th April, 2014

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A. P. (DIR Series) Circular No. 118 dated 7th April, 2014

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May 2014

A. P. (DIR Series) Circular No. 119 dated 7th April, 2014

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A. P. (DIR Series) Circular No. 118 dated 7th April, 2014

A. P. (DIR Series) Circular No. 120 dated 10th April, 2014