Repatriation limits for non-residents clarified; remittances require authorised bank certification, CA certificate and tax compliance. Remittance facilities for NRIs, PIOs and foreign nationals under FEMA permit repatriation of balances and sale proceeds subject to an annual repatriation limit, Authorised Dealer bank satisfaction, an undertaking by the remitter and a Chartered Accountant's certificate in prescribed formats. Current income may be remitted as debits to NRO accounts or credited to NRE/FCNR accounts where tax obligations are met. AD banks must obtain declarations and preserve documentation, refuse transactions where requirements are unmet, and report suspected evasion; specified nationalities are excluded from certain repatriation facilities.
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Provisions expressly mentioned in the judgment/order text.
Repatriation limits for non-residents clarified; remittances require authorised bank certification, CA certificate and tax compliance.
Remittance facilities for NRIs, PIOs and foreign nationals under FEMA permit repatriation of balances and sale proceeds subject to an annual repatriation limit, Authorised Dealer bank satisfaction, an undertaking by the remitter and a Chartered Accountant's certificate in prescribed formats. Current income may be remitted as debits to NRO accounts or credited to NRE/FCNR accounts where tax obligations are met. AD banks must obtain declarations and preserve documentation, refuse transactions where requirements are unmet, and report suspected evasion; specified nationalities are excluded from certain repatriation facilities.
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