Reserve Bank prior permission for remittance of assets required, with documentary and auditor certification conditions attached. Applications for remittance of assets in specified cases require Reserve Bank's prior permission, including remittances for legacy, bequest or inheritance ... Summary
Reserve Bank prior permission for remittance of assets required, with documentary and auditor certification conditions attached.
Applications for remittance of assets in specified cases require Reserve Bank's prior permission, including remittances for legacy, bequest or inheritance above a prescribed threshold and remittances by NRIs/PIOs from NRO balances or inherited assets. Applications must include a copy of prior permission where relevant, an auditor's certificate detailing the remittable amount, confirmation that Indian liabilities and employee dues are met, assurance that foreign-sourced income has been repatriated, a tax no-objection/clearance certificate, confirmation of absence of legal impediments, and ROC report where winding up is involved. The Reserve Bank may permit remittance subject to conditions.
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