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October 2013

A. P. (DIR Series) Circular No. 45 dated 16th September, 2013

By Gaurang Gandhi, Chartered Accountant
Reading Time 1 mins
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Memorandum of Instructions governing moneychanging activities–Location of Forex Counters in International Airports in India

This circular states that non-residents can carry Indian currency up to a maximum of Rs. 10,000 beyond Immigration/Customs desk to the Duty Free Area/Security Hold Area (SHA) in the departure hall in international airports in India for meeting miscellaneous expenditures. However, they must dispose of Indian currency before boarding the plane.

Further, in order to provide money-changing facility to non-residents to convert unspent Indian rupees with them, Foreign Exchange Counters can be opened in the Duty Free Area/SHA beyond the Immigration/Customs desk in the departure halls in international airports in India.

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