FOREIGN EXCHANGE MANAGEMENT (TRANSFER OR ISSUE OF SECURITY BY A PERSON RESIDENT OUTSIDE INDIA) REGULATIONS, 2000 (From Regulation 1 to Regulation SCHEDULE 11)
SCHEDULE 04 - Purchase and sale of shares/ convertible debentures by a Non-resident Indian (NRI) on non-repatriation basis - [See Regulation 5 (3) (ii)]
Foreign Exchange Management (Transfer or Issue Of Security By A Person Resident Outside India) Regulations, 2000
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Non-repatriation investment by NRIs allows purchase of domestic securities, with proceeds credited to resident accounts and non-repatriable. A Non-Resident Indian may acquire and hold, on a non-repatriation basis, specified equity, convertible instruments, warrants, units and make partnership capital contributions without limit. Prohibited targets include Nidhi companies, chit funds and certain agricultural, plantation, real estate and related activities (with specified exclusions such as REIT units and infrastructure development). Consideration must be paid by inward remittance or from NRE/FCNR/NRO/NRSR/NRNR accounts. Sale or maturity proceeds (net of taxes) are to be credited to prescribed NRO/NRSR accounts, and the invested amount plus capital appreciation is not repatriable.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Non-repatriation investment by NRIs allows purchase of domestic securities, with proceeds credited to resident accounts and non-repatriable.
A Non-Resident Indian may acquire and hold, on a non-repatriation basis, specified equity, convertible instruments, warrants, units and make partnership capital contributions without limit. Prohibited targets include Nidhi companies, chit funds and certain agricultural, plantation, real estate and related activities (with specified exclusions such as REIT units and infrastructure development). Consideration must be paid by inward remittance or from NRE/FCNR/NRO/NRSR/NRNR accounts. Sale or maturity proceeds (net of taxes) are to be credited to prescribed NRO/NRSR accounts, and the invested amount plus capital appreciation is not repatriable.
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