Remittances to IFSCs under LRS now permitted for payment of foreign university fees for approved courses. Remittances to International Financial Services Centres under the Liberalised Remittance Scheme are authorised for payment of fees to foreign universities or institutions in IFSCs for courses specified in the cited gazette notification, under the purpose head studies abroad in Schedule III of the Foreign Exchange Management (Current Account Transactions) Rules, 2000. Authorised Persons must facilitate these remittances and notify their customers; the directions are issued under the Foreign Exchange Management Act and are without prejudice to other statutory permissions.
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.
Remittances to IFSCs under LRS now permitted for payment of foreign university fees for approved courses.
Remittances to International Financial Services Centres under the Liberalised Remittance Scheme are authorised for payment of fees to foreign universities or institutions in IFSCs for courses specified in the cited gazette notification, under the purpose head studies abroad in Schedule III of the Foreign Exchange Management (Current Account Transactions) Rules, 2000. Authorised Persons must facilitate these remittances and notify their customers; the directions are issued under the Foreign Exchange Management Act and are without prejudice to other statutory permissions.
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