Fema _foreign travel

P.C. Joshi (service) (274 Points)

05 September 2016  
Dear Freiends, Can anyone please share his views on the following queries. An executive of the Copmany goes on a business tour and avails the foreign currency from an authorised dealer/money changer. He gives accounts and after this there is a balance in his account. He tells that he has used some FC in his perosonal purchases and ask to debit his account. Is this proper? I mean can a person use the Forex availed for bsiness purpose for personal purchases. And is there any requirement of reporting this. Please share your views. Thanks, P.C. Joshi