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June 2015

A. P. (DIR Series) Circular No. 98 dated May 14, 2015

By Gaurang Gandhi Chartered Accountant

Reading Time 1 mins

Foreign Currency (Non-Resident) Account (Banks) (FCNR (B)) Scheme

This circular clarifies that A2 Form is not required to be filled at the time of remittance of FCNR (B) funds. Also, to ensure hassle free remittance of funds to the account holder, banks, with the help of technology, will have to devise better alternatives/methods for ensuring bonafides of the transaction and not insist on physical presence of the account holder.

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June 2015

A. P. (DIR Series) Circular No. 98 dated May 14, 2015

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DIPP – Circular F. No. 5(1)/2015-FC-1 dated the 12th May, 2015

A. P. (DIR Series) Circular No. 101 dated May 14, 2015

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June 2015

A. P. (DIR Series) Circular No. 98 dated May 14, 2015

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DIPP – Circular F. No. 5(1)/2015-FC-1 dated the 12th May, 2015

A. P. (DIR Series) Circular No. 101 dated May 14, 2015