Possession limits for foreign currency: specified categories may retain currency subject to origin and residency conditions. The Regulations permit possession without limit of foreign currency and coins by authorised persons within their authority and possession without limit of foreign coins by any person. Residents may retain foreign currency notes, bank notes and travellers' cheques up to US$2000 (or equivalent) in aggregate if acquired abroad while on visit for non business services, received from a non resident visitor as honorarium, gift, payment for services or settlement of lawful obligation, received as honorarium or gift while abroad, or represent unspent travel foreign exchange. Non permanently resident persons may possess without limit foreign currency acquired while resident abroad and brought into India in compliance with FEMA rules.
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.
Possession limits for foreign currency: specified categories may retain currency subject to origin and residency conditions.
The Regulations permit possession without limit of foreign currency and coins by authorised persons within their authority and possession without limit of foreign coins by any person. Residents may retain foreign currency notes, bank notes and travellers' cheques up to US$2000 (or equivalent) in aggregate if acquired abroad while on visit for non business services, received from a non resident visitor as honorarium, gift, payment for services or settlement of lawful obligation, received as honorarium or gift while abroad, or represent unspent travel foreign exchange. Non permanently resident persons may possess without limit foreign currency acquired while resident abroad and brought into India in compliance with FEMA rules.
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