# The Finance Act, 1987, Section 100: Foreign exchange conservation (travel) tax

- Act: The Finance Act, 1987 (Act 11 of 1987)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1987/section/100/

## Text

Foreign exchange conservation (travel) tax 100. (2) With effect from the date of commencement of this Chapter, there shall be levied on all foreign exchange released for any foreign travel by any person, a tax [hereafter in this Chapter referred.to as the foreign exchange conservation (travel) tax] at the rate of fifteen per cent of the rupee equivalent of the amount of foreign exchange released, (2) In accordance with the rules made under this Chapter, the foreign exchange conservation (travel) tax shall be collected by the authorised dealer or money changer and paid to the credit of the Central Government. [Finance Act, 1987] © Copyright. Taxmann Publications Pvt. Ltd.

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