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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Liberalised Remittance Scheme Allows Indians to Buy Property Abroad; Post Facto Reporting Requirement Withdrawn.</h1> The circular addresses Authorised Dealer Category-I banks, clarifying that the Liberalised Remittance Scheme for resident individuals can be used for acquiring immovable property outside India. It withdraws the requirement for post facto reporting as stipulated in a previous circular dated September 4, 2013. The directives are issued under the Foreign Exchange Management Act, 1999, and do not affect any other permissions or approvals required under different laws.
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