Liberalised Remittance Scheme limits govern individuals' overseas remittances; excess transfers require prior central bank approval. Individuals may remit foreign exchange for specified current account purposes under the Liberalised Remittance Scheme up to an annual entitlement; remittances exceeding that entitlement for listed purposes require prior approval of the Reserve Bank. Residents not permanently resident may remit up to net salary subject to deductions. Persons other than individuals must obtain prior approval for certain high value donations, agent commissions for property sales, consultancy payments for infrastructure and other projects, and reimbursement of pre incorporation expenses beyond prescribed thresholds. Remittance procedure aligns with the Liberalised Remittance Scheme.
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.
Liberalised Remittance Scheme limits govern individuals' overseas remittances; excess transfers require prior central bank approval.
Individuals may remit foreign exchange for specified current account purposes under the Liberalised Remittance Scheme up to an annual entitlement; remittances exceeding that entitlement for listed purposes require prior approval of the Reserve Bank. Residents not permanently resident may remit up to net salary subject to deductions. Persons other than individuals must obtain prior approval for certain high value donations, agent commissions for property sales, consultancy payments for infrastructure and other projects, and reimbursement of pre incorporation expenses beyond prescribed thresholds. Remittance procedure aligns with the Liberalised Remittance Scheme.
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