Remittance of assets: eligible NRIs and foreign citizens may remit inherited or post employment assets subject to documentation and tax compliance. Regulation 4 permits specified persons to remit assets abroad through an authorised dealer up to a prescribed financial year ceiling, subject to ... Summary
Remittance of assets: eligible NRIs and foreign citizens may remit inherited or post employment assets subject to documentation and tax compliance.
Regulation 4 permits specified persons to remit assets abroad through an authorised dealer up to a prescribed financial year ceiling, subject to documentary evidence of acquisition or inheritance and payment of applicable taxes. NRIs/PIOs may remit from NRO balances, sale proceeds or inherited assets on production of documentary evidence or original deeds of settlement where applicable. Authorised dealers may effect such remittances without Reserve Bank approval if conditions are met, and may permit remittances from companies under liquidation only after auditor certificates and compliance with winding up orders.
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