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Remittances Connected with Exports : Exporters are permitted to retain upto 25% (50% in the case of EOUs located in EPZI Software Technology Parks/Electronics Hardware Technology Parks) of the receipts from export of goods in a foreign currency account with an authorised dealer in India. This account is known as Exchange Earners Foreign Currency (EEFC) account. According to the Monetary Policy (announced on October 22, 1997), Exporters are allowed to retain 50% of their exchange earnings in the EEFC account as against the earlier 25%. The account may be maintained in any permitted currency and in any form (current, savings without cheque facility or term deposit account). The balances in these accounts may be utilised for all bonafide payments of the account holder. Exporters maintain foreign Currency Accounts are not allowed to maintain EEFC accounts.
Describe the Meaning of Research Research in common man's language refers to "search for knowledge". Research is basically the process of finding solution to a problem after
identifying major alternative
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‘Tots & Teens Fashion' is a small business based in Birmingham, UK. It is owned by Amara and her husband Tariq who started the business 2 years ago. The business supplies a r
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Exchange Control: Exchange control means official intervention with the foreign exchange of a country. It is a system of rationing foreign exchange among competing demands for it,
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