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Individuals exempt from reporting foreign earnings; RBI to issue FAQs soon

Clarifying that individuals do not need to report imports or export earnings, the Reserve Bank on Wednesday said it will publish FAQs (frequently asked questions) shortly to quell "misunderstandings" around the recently implemented regulatory changes. Even in the case of entities, there is a provision for self-declaration up to a cap of Rs 10 lakh per bill, Governor Sanjay Malhotra said. Malhotra said the unified Foreign Exchange Management (Export and Import of Goods and Services) Regulations,…

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Business StandardCenter·1h ago
Individuals exempt from reporting foreign earnings; RBI to issue FAQs soon
Clarifying that individuals do not need to report imports or export earnings, the Reserve Bank on Wednesday said it will publish FAQs (frequently asked questions) shortly to quell "misunderstandings" around the recently implemented regulatory changes. Even in the case of entities, there is a provision for self-declaration up to a cap of Rs 10 lakh per bill, Governor Sanjay Malhotra said. Malhotra said the unified Foreign Exchange Management (Export and Import of Goods and Services) Regulations,…
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Individuals exempt from reporting foreign earnings; RBI to issue FAQs soon

How 1 sources are covering this

Individuals exempt from reporting foreign earnings; RBI to issue FAQs soon

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