Surrender of realised foreign exchange requires non-individual Indian residents to sell receipts to authorised persons within prescribed periods. A person who is not an individual resident in India must sell realised foreign exchange to an authorised person within prescribed surrender periods. ... Summary
Foreign Exchange Management (Realisation, Repatriation and Surrender of Foreign Exchange) Regulations, 2015
Surrender of realised foreign exchange requires non-individual Indian residents to sell receipts to authorised persons within prescribed periods.
A person who is not an individual resident in India must sell realised foreign exchange to an authorised person within prescribed surrender periods. Receipts from remuneration, lawful obligations, income on assets held outside India, inheritance, settlement or gift must be surrendered within seven days of receipt. All other realised foreign exchange must be sold within ninety days of receipt.
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