Remittance facilities under FEMA govern repatriation of income and sale proceeds subject to tax, documentation, and bank verification. The Circular consolidates FEMA rules permitting remittance of current income and repatriation of balances and sale proceeds by NRIs/PIOs and eligible foreign nationals through NRO/NRE/FCNR(B) accounts, subject to documentary evidence, income tax compliance and satisfaction of authorised dealers. It allows re designation of resident accounts as NRO accounts for departing foreign nationals to receive bona fide dues, prescribes limits and property specific repatriation rules for immovable property bought with foreign exchange, excludes specified nationalities from certain facilities, and requires AD Category I banks to implement controls, obtain declarations, and verify tax payment before permitting repatriation.
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 facilities under FEMA govern repatriation of income and sale proceeds subject to tax, documentation, and bank verification.
The Circular consolidates FEMA rules permitting remittance of current income and repatriation of balances and sale proceeds by NRIs/PIOs and eligible foreign nationals through NRO/NRE/FCNR(B) accounts, subject to documentary evidence, income tax compliance and satisfaction of authorised dealers. It allows re designation of resident accounts as NRO accounts for departing foreign nationals to receive bona fide dues, prescribes limits and property specific repatriation rules for immovable property bought with foreign exchange, excludes specified nationalities from certain facilities, and requires AD Category I banks to implement controls, obtain declarations, and verify tax payment before permitting repatriation.
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