Remittance of assets covers lawful outward transfers of deposits, benefits, insurance proceeds, and sale proceeds of Indian assets. Regulation 2 defines key terms for remittance of assets outside India. "Remittance of asset" includes outward remittance of funds representing deposits, ... Summary
Remittance of assets covers lawful outward transfers of deposits, benefits, insurance proceeds, and sale proceeds of Indian assets.
Regulation 2 defines key terms for remittance of assets outside India. "Remittance of asset" includes outward remittance of funds representing deposits, provident fund balances, superannuation benefits, insurance-policy claims or maturity proceeds, and sale proceeds of shares, securities, immovable property, or other assets lawfully held in India. "Authorised Dealer" has the meaning linked to authorisation under the Foreign Exchange Management Act, 1999, while NRI and PIO adopt meanings under the Foreign Exchange Management (Deposit) Regulations, 2016.
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