Remittance of asset: defines covered transfers and eligible persons including NRI and PIO under FEMA remittance regulations. Regulation 2 defines terms for the Remittance of Assets Regulations, 2000, including the Act reference, authorised dealer, Non-Resident Indian (NRI) as an ... Summary
Remittance of asset: defines covered transfers and eligible persons including NRI and PIO under FEMA remittance regulations.
Regulation 2 defines terms for the Remittance of Assets Regulations, 2000, including the Act reference, authorised dealer, Non-Resident Indian (NRI) as an Indian citizen resident abroad, and Person of Indian Origin (PIO) by prior Indian passport, parentage/grandparentage, or spousal link. It defines Remittance of asset to include outward transfers of deposits, provident fund or superannuation benefits, insurance proceeds, and sale proceeds of shares, securities or immovable property, states that undefined expressions have the Act's meanings, and notes amendments by Notification No. 062/2002.
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