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What are the permissible Debits?

April 26, 2017debits permissible

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What are the permissible Debits?

1 Answer

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Payment towards all current account transactions such as travel, medical, studies abroad, permissible imports, commission, customs duty, etc. However, remittances towards gifts and donations exceeding USD 5000 per remitter/donor per annum is not permissible. Payments towards permissible capital account transactions. Payment in India to 100% Export Oriented Units/Units in Export Processing Zones/Software Technology Parks/Electronic Hardware Technology Parks towards cost of goods and services provided by them. Payment towards trade related loans and advances. Payment in foreign exchange to a person resident in India for supply of goods and services including payment for air fare and hotel expenditure.