Liberalised remittance facility enables repatriation of India-held assets for NRIs, PIOs and eligible foreign nationals under conditions. The circular permits NRIs, PIOs and specified foreign nationals to repatriate India-held assets and proceeds for bonafide purposes, subject to documentary proof of acquisition, an undertaking and tax-compliance certification. Eligible funds include sale proceeds of immovable property, inherited assets, bank deposits, provident/superannuation balances, insurance maturities, and sale proceeds of securities. Repatriation must be routed through authorised dealers and banking channels; multiple instalments must use the same dealer. A 10-year holding requirement applies to immovable property acquired from rupee funds unless proceeds are traceably retained or reinvested; no lock-in applies to inherited or foreign-currency acquired property.
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.
Liberalised remittance facility enables repatriation of India-held assets for NRIs, PIOs and eligible foreign nationals under conditions.
The circular permits NRIs, PIOs and specified foreign nationals to repatriate India-held assets and proceeds for bonafide purposes, subject to documentary proof of acquisition, an undertaking and tax-compliance certification. Eligible funds include sale proceeds of immovable property, inherited assets, bank deposits, provident/superannuation balances, insurance maturities, and sale proceeds of securities. Repatriation must be routed through authorised dealers and banking channels; multiple instalments must use the same dealer. A 10-year holding requirement applies to immovable property acquired from rupee funds unless proceeds are traceably retained or reinvested; no lock-in applies to inherited or foreign-currency acquired property.
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