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October 2013

A. P. (DIR Series) Circular No. 39 dated 6th September, 2013

By Gaurang Gandhi, Chartered Accountant
Reading Time 1 mins
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Notification No.FEMA.258/2013-RB dated 15th February, 2013 notified vide G.S.R.No.480 (E) dated 12th July, 2013

Export and Import of Currency

Presently, a resident individual can take outside India or having gone out of India on a temporary visit, bring into India (other than to and from Nepal and Bhutan) Indian currency notes up to an amount not exceeding Rs. 7,500.

This circular has increased this limit from Rs. 7,500 to Rs. 10,000. As a result, any person resident in India:

i) Can take outside India (other than to Nepal and Bhutan) Indian currency notes up to an amount not exceeding Rs. 10,000 (rupees ten thousand only); and

ii) Who had gone out of India on a temporary visit, can bring into India at the time of his return from any place outside India (other than from Nepal and Bhutan), Indian currency notes up to an amount not exceeding Rs. 10,000 (rupees ten thousand only).

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