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of <h1>Consolidated Rules for NRI, PIO, and Foreign Nationals' Remittances Under FEMA 1999: Key Limits and Conditions.</h1> The Master Circular consolidates regulations on remittance facilities for Non-Resident Indians (NRIs), Persons of Indian Origin (PIO), and foreign nationals under the Foreign Exchange Management Act (FEMA) of 1999. It details remittance of current income, assets, and salary, repatriation of property sale proceeds, and facilities for students. NRIs/PIOs can remit up to USD one million per financial year from their Non-Resident (Ordinary) Rupee accounts, subject to tax compliance. Foreign nationals can remit assets under specific conditions. The circular also covers international credit card issuance and tax clearance requirements for remittances.
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