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of <h1>New 180-Day Rule for Surrendering Foreign Exchange: Residents Must Comply with Updated Regulations Under FEMA 2000.</h1> The circular addresses the Foreign Exchange Management (Realisation, Repatriation, and Surrender of Foreign Exchange) Regulations, 2000, highlighting amendments to the surrender period for foreign exchange. It mandates that resident individuals must surrender received, realized, unspent, or unused foreign exchange to an authorized person within 180 days from the relevant date of receipt, realization, purchase, acquisition, or return from travel. Previously, different periods applied based on the nature of the foreign exchange. The circular instructs authorized foreign exchange dealers to inform their clients of these changes, in accordance with the Foreign Exchange Management Act, 1999.
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