Remittance limits for non-residents require bank certification and tax compliance before repatriation is permitted. Remittance facilities under FEMA permit NRIs/PIOs and certain foreign nationals to remit current income, sale proceeds of assets and salary subject to documentation, tax compliance and Authorised Dealer bank satisfaction. Repatriation of sale proceeds requires evidence of acquisition/inheritance, an undertaking by the remitter and a Chartered Accountant certificate in prescribed formats. Specified annual repatriation limits and nationality based exclusions apply. Authorised Dealer banks must obtain and preserve declarations, ensure transactions do not contravene FEMA, and report suspected contraventions to the Reserve Bank.
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.
Remittance limits for non-residents require bank certification and tax compliance before repatriation is permitted.
Remittance facilities under FEMA permit NRIs/PIOs and certain foreign nationals to remit current income, sale proceeds of assets and salary subject to documentation, tax compliance and Authorised Dealer bank satisfaction. Repatriation of sale proceeds requires evidence of acquisition/inheritance, an undertaking by the remitter and a Chartered Accountant certificate in prescribed formats. Specified annual repatriation limits and nationality based exclusions apply. Authorised Dealer banks must obtain and preserve declarations, ensure transactions do not contravene FEMA, and report suspected contraventions to the Reserve Bank.
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