Please refer to paragraph 02 of FE Circular No.15, dated September 02, 2010 read with FE Circular No.05, dated February 24, 2013 in terms of which Authorized Dealers are allowed to remit abroad up to USD 20,000 on behalf of IT/Software firms to meet their bonafide expenses in a calendar year.
- It has now been decided to enhance the remittable limit from USD 20,000 to USD 25,000 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 2,500 from USD 2,000 within the revised total limit of USD 25,000.
- Other instructions in this context shall remain unchanged.
Please bring the contents of this circular to the notice of all concerned.