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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>NRIs Returning to India Can Retain Foreign Assets, Repatriate Income Under FEMA, 1999 and LRS Guidelines.</h1> The circular addresses the repatriation of income and sale proceeds of assets held abroad by NRIs who have returned to India for permanent settlement or acquired abroad through remittances under the Liberalised Remittance Scheme (LRS). It clarifies that, per FEMA, 1999, individuals resident in India can hold, own, transfer, or invest in foreign assets acquired while residing outside India or inherited from non-residents. Additionally, investors may retain and reinvest income from investments made under the LRS. Authorized Dealer banks are instructed to inform their customers of these provisions.
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