Remittance of Indian security sale proceeds requires repatriation-basis holding and compliant pricing or regulatory approval after applicable taxes. Transactions involving non-debt instruments must be conducted through banking channels in India and remain subject to applicable Indian taxes, duties and ... Summary
Referred In :
Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) Regulations, 2019
Remittance of Indian security sale proceeds requires repatriation-basis holding and compliant pricing or regulatory approval after applicable taxes.
Transactions involving non-debt instruments must be conducted through banking channels in India and remain subject to applicable Indian taxes, duties and levies. An authorised dealer may remit sale proceeds, net of applicable taxes, to a non-resident seller only where the security was held on a repatriation basis and its sale complied with pricing guidelines, or where Reserve Bank approval has been obtained for the sale and remittance.
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