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Offered for sale

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(Querist)
19 May 2010 As per FEMA Act Foreign exchange so received shall be offered for sale to an authorised dealer withen 7 days?

What is Offered for Sale means in above Line?
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Rahul Gupta

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Rahul Gupta (Expert)
19 May 2010 Offered for sale means that you have approached the dealer for converting the exchange in Indian Ruppees.
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CA Shiv

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CA Shiv (Expert)
19 May 2010 agreee. to the authorised dealer in exchange like thomas cook or Banks.. Dont forget to take certificate from them for the amount exchanged.
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