Fema

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VAIBHAV BHATNAGAR

Finance executive

53 Points Joined August 2010

Please anybody can tell me that how much a company can purchase foreign currency for the purpose of foreign travel of the directors of the company for business visit.

Also company does not hold any resident foreign currency acount.

Please do reply and thanks in advance.

Regards

Vaibhav bhatnagar

Replies (1)

Prashanth

Chartered Accountant

2322 Points Joined June 2010

Hi,

In such case the directors can carry foriegn currency of $25000 each director and anything excess of the said amount then prior approval of RBI is reqd.

Pls make me correct if im wrong...