SCHEDULE 03 - Purchase/ Sale of Capital Instruments of a listed Indian company on a recognised stock exchange in India by Non-Resident Indian (NRI) or Overseas Citizen of India (OCI) on repatriation basis [See Regulation 5(3)]
Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2017
📋
Contents
Cases Cited
Referred In
Notifications
Circulars
Forms
Manuals
Acts
Rules & Regulations
Case Laws New
Ref Provisions New
Plus +
Source NTF
Summary
Similar
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Repatriable acquisition limits for NRI/OCI: individual and aggregate shareholding caps and payment rules require designated NRE(PIS) accounts. NRIs and OCIs may buy or sell listed Indian company capital instruments on a repatriation basis through an Authorised Dealer's designated branch, subject to individual holding limits of five percent and aggregate limits of ten percent (expandable to twenty four percent by special resolution). Payment must be by inward remittance or from an NRE (PIS) Account used exclusively for permitted transactions. Sale proceeds net of taxes may be repatriated or credited to the seller's NRE (PIS) account, and any NRO (PIS) designation shall be re designated as NRO.
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.
Repatriable acquisition limits for NRI/OCI: individual and aggregate shareholding caps and payment rules require designated NRE(PIS) accounts.
NRIs and OCIs may buy or sell listed Indian company capital instruments on a repatriation basis through an Authorised Dealer's designated branch, subject to individual holding limits of five percent and aggregate limits of ten percent (expandable to twenty four percent by special resolution). Payment must be by inward remittance or from an NRE (PIS) Account used exclusively for permitted transactions. Sale proceeds net of taxes may be repatriated or credited to the seller's NRE (PIS) account, and any NRO (PIS) designation shall be re designated as NRO.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.