Firms can remit out salaries of foreigners working in India

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The Reserve Bank allowed companies to remit overseas the salaries of foreigners working in the country, reported PTI.

Firms can remit out salaries of foreigners working in India
"We have been receiving queries whether remittance of salary outside the country can be effected for employees on deputation to a group company in India and for employees of limited liability partnerships," the RBI said, on what caused the change.

Accordingly, changes have been made in regulations, it said.

The RBI has also expanded the definition of a "company", to include "Limited Liability Partnership".

Read more about: reserve bank
Story first published: Friday, January 23, 2015, 9:10 [IST]
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