dominic's blog

Banking Updates – Flash 4 – Funds transfer on Mobile : DAC Consulting.

dominic's picture
2nd September 2011 Interbank Mobile Payment Service (IMPS)was launded for the public on 22nd November 2010 . IMPS offers an instant, 24X7, interbank electronic fund transfer service through mobile phones.

DAC Consulting - FEMA – Going Abroad for employment – POST 3

dominic's picture
What type of account do I open? Uses of these accounts What do I do when I sell a Property NRO vs NRE - What is this....   CASE STUDY: A Client was to proceed overseas the purpose of employment.

Banking Updates – Flash 3 –( DAC Consulting) ATM’s running out of cash

dominic's picture
Have you wondered what happens to ATM’s cash supply when the entire banking industry is paralyzed by strikes (which plague us quite often.)?   RBI recognizing this as a major issue has issued guidelines to banks on the following lines. Contingency plan during strikes in banks / na

FEMA – NRI ( Non Resident Indian) – POST 2

dominic's picture
CAN A NRI/PIO REMIT PROCEEDS OF SALE OF PROPERTY IN INDIA FROM HIS NRO ( NON RESIDENT ORDINARY RUPEE ACCOUNT).  

SERIES Z (3) : MISC: OUTWARD REMITTANCE – WHAT IS FORM 15 CA/CB

dominic's picture
When a person resident in India wishes to make remittance to non-residents, such remittances can be made by banks if the person making the remittance furnishes an undertaking, accompanied by a certificate from a Chartered Accountant (“CA”) certifying the rate for withholding tax as per

FEMA ( Foreign Exchange Management Act 1999) and You - Series 1 Sub 8 – Personal

dominic's picture
Inward remittances in foreign currency. By and large, inward remittances are permitted without any restrictions. However, certain remittances towards capital account are regulated i.e. External commercial borrowing and inward remittance towards investment in India.

INTERNATIONAL TRADE OPERATIONS – INCO TERMS – AN INTRODUCTION - PART 1 – BY DOMINIC CHRISTY – DAC CONSULTING

dominic's picture
Incoterms® - International Commercial Terms The Incoterms rules are an internationally recognized standard and are used worldwide in international and domestic contracts for the sale of goods. First published in 1936, Incoterms rules provide internationally accepted definitions and rules of

Foreign Exchange Cost Savings by Dominic Christy – DAC Consulting.

dominic's picture
Over the recent weeks, I have set a record of sorts. My maiden venture into the field of entrepreneurship was a huge step forward, but a risk none the less.

FEMA ( Foreign Exchange Management Act 1999) and You - Series 1 Sub 7 – Personal by Dominic Christy DAC Consulting

dominic's picture
Documentation for remittance in case of individuals: The Reserve Bank does  not, generally, prescribe the documents that should be submitted to  Authorised Dealers while releasing foreign exchange.