Form No. Application for purchase of Foreign exchange - Application cum Declaration for purchase of foreign exchange under the Liberalised Remittance Scheme
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Liberalised Remittance Scheme authorizes resident individuals to purchase foreign exchange subject to eligibility, declarations and AD certification. The form sets out requirements for resident individuals to purchase foreign exchange under the Liberalised Remittance Scheme, including applicant identity and account details, amount, purpose, instrument type, and beneficiary bank particulars. Applicants must declare that total remittances in the financial year remain within the overall scheme limit, that funds are the applicant's legitimate source and not for prohibited purposes, and must authorize the authorised dealer to debit their account. Authorised dealers must certify eligibility and conformity with Reserve Bank instructions.
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.
Liberalised Remittance Scheme authorizes resident individuals to purchase foreign exchange subject to eligibility, declarations and AD certification.
The form sets out requirements for resident individuals to purchase foreign exchange under the Liberalised Remittance Scheme, including applicant identity and account details, amount, purpose, instrument type, and beneficiary bank particulars. Applicants must declare that total remittances in the financial year remain within the overall scheme limit, that funds are the applicant's legitimate source and not for prohibited purposes, and must authorize the authorised dealer to debit their account. Authorised dealers must certify eligibility and conformity with Reserve Bank instructions.
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