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    India Foreign Exchange Info


    Foreign Contribution (Regulation) Act, 1976

    (b) by way of payment, in the course of international trade or commerce, or in the ordinary course of business transacted by him outside India; or

    (c) as an agent of a foreign source in relation to any transaction made by such foreign source with government; or

    (d) by way of a gift or presentation made to him as a member of any Indian delegation, provided that such gift or present was accepted in accordance with the regulations made by the Central Government with regard to the acceptance or retention of such gift or presentation; or

    (e) from his relative when such foreign contribution has been received with the previous permission of the Central Government:

    PROVIDED that no such permission shall be required if the amount of foreign contribution received by him from his relative does not exceed, in value, eight thousand rupees per annum and an intimation is given by him to the Central Government as to the amount received, the source from which and the manner in which it was received and the purpose for which and the manner in which it was utilised by him,

    (f) by way of remittance received, in the ordinary course of business, through any official channel, post office, or any authorised dealer in foreign exchange under the Foreign Exchange Regulation Act, 1973 (46 of 1973).

    Explanation: In this Act, the expression "relative" has the meaning assigned to it in the Companies Act, 1956 (1 of 1956)...continued