Chapter VINVESTMENT BY AN INDIVIDUAL PERSON RESIDENT OUTSIDE INDIA INCLUDING A NONRESIDENT INDIAN OR AN OVERSEAS CITIZEN OF INDIA (From Rule 12 to Rule 13 )
Chapter XINVESTMENT BY PERMISSIBLE HOLDER IN EQUITY SHARES OF PUBLIC COMPANIES INCORPORATED IN INDIA AND LISTED ON INTERNATIONAL EXCHANGES (From Rule 34 )
Remittance of sale proceeds: authorised dealers may remit net proceeds to non-resident sellers subject to regulatory conditions. Rule 22 requires that transactions in sale proceeds of Indian securities be carried out through banking channels and subject to applicable taxes. ... Summary
Remittance of sale proceeds: authorised dealers may remit net proceeds to non-resident sellers subject to regulatory conditions.
Rule 22 requires that transactions in sale proceeds of Indian securities be carried out through banking channels and subject to applicable taxes. Remittance to non-resident sellers is allowed only under these rules, relevant Schedule conditions and regulatory specifications. An authorised dealer may remit net sale proceeds to a non-resident seller provided the security was held on a repatriation basis and the sale either complies with pricing guidelines or has prior regulatory approval for sale and remittance.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.