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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New Master Circular Under FEMA: Guidelines for NRI, PIO, and Foreign National Remittances, Tax Compliance, and Limits.</h1> The Master Circular consolidates guidelines on remittance facilities for Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs), and Foreign Nationals under the Foreign Exchange Management Act (FEMA). It covers remittance of current income, assets, and salary, as well as repatriation of property sale proceeds. The circular outlines conditions for remittances, including tax compliance and limits on amounts, particularly for citizens of specific countries. It also details facilities for students and the issuance of international credit cards. The circular is periodically updated with new instructions and serves as a reference for authorized banks handling such transactions.
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