Resident foreign currency accounts may be credited with repatriated foreign exchange from earnings and close-relative gifts. Resident Foreign Currency (Domestic) Accounts may be opened and credited by resident individuals with foreign exchange earned (including export receipts, royalty, honorarium) and with gifts from close relatives, provided such foreign exchange is repatriated to India through normal banking channels; authorised dealers are instructed to implement this expansion and notify constituents, and amendments to the prior notification will be issued to reflect these additional permitted credits.
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.
Resident foreign currency accounts may be credited with repatriated foreign exchange from earnings and close-relative gifts.
Resident Foreign Currency (Domestic) Accounts may be opened and credited by resident individuals with foreign exchange earned (including export receipts, royalty, honorarium) and with gifts from close relatives, provided such foreign exchange is repatriated to India through normal banking channels; authorised dealers are instructed to implement this expansion and notify constituents, and amendments to the prior notification will be issued to reflect these additional permitted credits.
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