Remittance of assets by NRIs/PIOs allowed with settlements treated as inheritance, subject to annual limit and compliance. Banks authorised to deal in foreign exchange may allow NRIs/PIOs to remit assets from NRO balances, sale proceeds, and assets acquired by inheritance, legacy or settlement, subject to the annual limit, only on demise of the settlor for settlements made by parents or close relatives, and after receipt of an undertaking by the remitter and a Chartered Accountant certificate in the prescribed format; country-specific restrictions and other statutory permissions continue to apply.
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 of assets by NRIs/PIOs allowed with settlements treated as inheritance, subject to annual limit and compliance.
Banks authorised to deal in foreign exchange may allow NRIs/PIOs to remit assets from NRO balances, sale proceeds, and assets acquired by inheritance, legacy or settlement, subject to the annual limit, only on demise of the settlor for settlements made by parents or close relatives, and after receipt of an undertaking by the remitter and a Chartered Accountant certificate in the prescribed format; country-specific restrictions and other statutory permissions continue to apply.
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