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Indian nationals can remit salaries abroad
April 17, 2004 13:51 IST
The Reserve Bank of India has permitted Indian nationals employed by an overseas company on deputation to remit their salary for maintenance of close relatives residing abroad.
Authorised dealers can allow remittance of net salary (after deductions of taxes, contribution to provident fund and other deductions) of a Indian citizen, who is on deputation to the office or branch or subsidiary or joint venture in India of such overseas company, for the maintenance of close relatives residing abroad, the RBI said in a notification in Mumbai on Saturday.
This facility was already available to foreign nationals (other than Pakistanis), who are resident but not permanently residing in India, while in case of such Indians, the matter was required to be referred to the central bank.