Remittance limits for non-residents permit capped outward transfers with prescribed documentation and tax certification. Master Circular consolidates RBI rules permitting remittance of current income and limited repatriation of balances and sale proceeds by NRIs/PIOs and eligible foreign nationals, subject to documentary evidence, remitter undertakings and Chartered Accountant certification in prescribed formats. Repatriation of residential property sale proceeds purchased with foreign exchange is allowed to the extent of original foreign exchange payment and limited to two properties. Authorised dealers must verify compliance, preserve documents, refuse deficient transactions, and report suspected contraventions; certain nationalities are excluded from specific remittance facilities.
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 limits for non-residents permit capped outward transfers with prescribed documentation and tax certification.
Master Circular consolidates RBI rules permitting remittance of current income and limited repatriation of balances and sale proceeds by NRIs/PIOs and eligible foreign nationals, subject to documentary evidence, remitter undertakings and Chartered Accountant certification in prescribed formats. Repatriation of residential property sale proceeds purchased with foreign exchange is allowed to the extent of original foreign exchange payment and limited to two properties. Authorised dealers must verify compliance, preserve documents, refuse deficient transactions, and report suspected contraventions; certain nationalities are excluded from specific remittance facilities.
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