VAIBHAV BHATNAGAR (Finance executive) (53 Points)
28 December 2011Please 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
Prashanth
(Chartered Accountant)
(2322 Points)
Replied 12 January 2012
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...
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