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Who should comply with foreign exchange management act (FEMA)

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Who should comply with foreign exchange management act (FEMA) ..can anyone explain this?when we deal with foreign currency only? When we have foreign vendors etc??

vasabattula abhinav

CA Final

★ 85

18-Feb-22 16:37

437

Answers (1)

Whenever there is a foreign payment involved. When you have a foreign vendor, your bank would be remitting the amount in foreign currency.

CA Suraj Lakhotia

Admin

18-Feb-22 16:40