Power to receive documentary evidence upheld; documents referred in complaint may be placed on record without amendment where omission was inadvertent...
Proof of foreign public documents requires originals or certified diplomatic/notarial copies; inspection must occur in-magna presence and cross-examin...
Prior Sanction Requirement: absence of prescribed approval invalidates reassessment notice; limitation also bars notice if escaped income below thresh...
Eligibility for exemption depends on strict construction of the product description; reapers without binder are ineligible, but confiscation and penal...
The Foreign Exchange Management (Deposit) (Sixth Amendment) Regulations, 2026 introduce an IFSC definition by linking it to the International Financial Services Centres Authority Act, 2019, and expand the SNRR account framework. A person resident outside India may open and maintain an SNRR account with an authorised dealer in India or its branch outside India, including in an IFSC, for permissible current and capital account transactions and bona fide transactions with non-residents. The amendment also adds transfer routes from NRO accounts within remittance limits, aligns transfers to NRE or SNRR accounts with the remittance rules, and requires SNRR transfers between non-residents to be made on the basis of account-holder instructions stating the underlying purpose.
The Foreign Exchange Management (Deposit) (Sixth Amendment) Regulations, 2026 introduce an IFSC definition by linking it to the International Financial Services Centres Authority Act, 2019, and expand the SNRR account framework. A person resident outside India may open and maintain an SNRR account with an authorised dealer in India or its branch outside India, including in an IFSC, for permissible current and capital account transactions and bona fide transactions with non-residents. The amendment also adds transfer routes from NRO accounts within remittance limits, aligns transfers to NRE or SNRR accounts with the remittance rules, and requires SNRR transfers between non-residents to be made on the basis of account-holder instructions stating the underlying purpose.
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