Section 6(2)(iii) in The Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016

[Cites 0, Cited by 0] [Section 6(2)] [Section 6] [Entire Act]

Union of India - Subsection

Section 6(2)(iii) in The Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016

(iii)a company or resident in India may make payment in rupees to its non whole time director who is resident outside India and is on a visit to India for the company's work and is entitled to payment of sitting fees or commission or remuneration, and travel expenses to and from and within India, in accordance with the provisions contained in the company's Memorandum of Association or Articles of Association or in any agreement entered into by it or in any resolution passed by the company in general meeting or by its Board of Directors, provided the requirement of any law, rules, regulations, directions applicable for making such payments are duly complied with.

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Union of India - Subsection

Section 6(2)(iii) in The Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016