News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

Home  » Business » Indian nationals can remit salaries abroad

Indian nationals can remit salaries abroad

Source: PTI
April 17, 2004 13:51 IST
Get Rediff News in your Inbox:

The Reserve Bank of India has permitted Indian nationals employed by an overseas company on deputation to remit their salary for maintenance of close relatives residing abroad.

Authorised dealers can allow remittance of net salary (after deductions of taxes, contribution to provident fund and other deductions) of a Indian citizen, who is on deputation to the office or branch or subsidiary or joint venture in India of such overseas company, for the maintenance of close relatives residing abroad, the RBI said in a notification in Mumbai on Saturday.

This facility was already available to foreign nationals (other than Pakistanis), who are resident but not permanently residing in India, while in case of such Indians, the matter was required to be referred to the central bank.

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!