in Foreign Exchange
Attention of Authorized Dealers
is invited to paragraph 2 of F.E. Circular No. 07 dated
the 20th June, 2000 in terms of which Software Houses/Companies
are allowed to retain 25% of their export earning in Special
Foreign Currency Accounts with the Authorized Dealers for
payment of commission to overseas buyers and to meet other
expenses such as promotional publicity, import of hardware/software
and foreign concultant's fee etc.
2. It has now been decided
to increase the above limit from 25% to 35%.
Other instructions on the subject
shall, however, remain unchanged.