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March 2015

A. P. (DIR Series) Circular No. 62 dated January 22, 2015

By Gaurang Gandhi Chartered Accountant
Reading Time 1 mins
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Notification No. FEMA. 328/2014-RB dated December 3, 2014 Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2000 – Remittance of salary This circular clarifies as under: –

1. Facility available to an employee of a company under Regulation 7(8) of Notification No. FEMA 10 will also be available to an employee who is deputed to a group company in India.
2. The term ‘company’ referred to in the said regulation will include ‘Limited Liability Partnership’ as defined in the LLP Act, 2008.

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A. P. (DIR Series) Circular No. 61 dated January 22, 2015

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