FOREIGN EXCHANGE TRANSACTIONS FOR IT/SOFTWARE FIRMS. REF: FEPD CIRCULAR NO. 05 DATED 24.02.2013.

  1. Attention of the Authorized Dealers (ADs) is invited to paragraph 02 of FEPD CIRCULAR NO. 15 DATED 02.09.2010 in terms of which ADs are allowed to remit abroad up to USD 10,000 on behalf of IT/Software firms to meet their bonafide expenses in a calendar year.
  2. It has now been decided to enhance the remittable limit from USD 10,000 to USD 20,000 in a calendar year. Accordingly, the limit for issuance of International Card to a nominated official of IT/Software firm is also increased to USD 2,000 from USD 1,000 within the revised total limit of USD 20,000.
  3. Other instructions contained in the FEPD CIRCULAR NO. 15 DATED 02.09.2010 shall remain unchanged.

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