Let us know your doubts and queries in section down below.
Also, if you can solve the other person’s doubt and queries, then it will be a great help to all the people troubling out.
Clarification regarding FEMA 1999 for individual tax payers
I am an individual tax payer residing in India and had the following query on FEMA 1999. I hope someone will answer:
** I do content writing and earn part time from online websites. I receive payments in my SBI account through financial services like Payoneer. Does my savings account need to be FEMA 1999 compliant? I earn not more than $1500-2000 per year. I already pay taxes on the amount by showing it as an income from other sources.
** In case I have to get my account FEMA 1999 compliant, what is the procedure pls? Also, is there any lower limit below which I need not get my account FEMA compliant?
Since I have no idea on how to proceed in the matter, any guidance will be thankfully acknowledged. I look forward to hear from your end.
Thanks and Regards,
Hello, Maximum $ 2,50,000 Lakh per year is permissible under FEMA without any approval.
Disclaimer : Don’t Forget to subscribe your query. If you donot find Mail from BabaTax, Kindly Check your promotion or spam mail inbox. Thank you for being a part of this GST forum. Your support and time is precious for us. Stay connected with us.
For any kind of support kindly write us at email@example.com.
Any mistake, error or discrepancy in this site or design or comments to be brought in our notice which shall be taken care of accordingly and every efforts shall be made to rectify without loss of time.
The views expressed in the answers of GST forum queries are strictly personal. Contents of GST forum are solely for informational purpose, not for any professional advice or suggestion. Author does not accept any liabilities for any loss or damage of any kind arising out of information and for any actions taken in reliance thereon.
You agree that www.babatax.com has no liability, obligation or responsibility for any such correspondence, purchase or promotion between you and any such third party.