Remittance facilities for persons other than individuals allow specified donations, commissions, consultancy and reimbursement remittances, subject to AD scrutiny. Schedule III permits non-individual entities to make specified outward remittances within prescribed ceilings: donations for educational and technical institutes, commissions to overseas agents for sale of residential or commercial property, consultancy fees with differentiated per-project ceilings for infrastructure and other projects, reimbursement of pre-incorporation expenses within a capped percentage of investment, and limited remittances under Paragraph 1. Residual current account transactions remain otherwise permissible subject to Authorised Dealer scrutiny; amounts beyond prescribed limits need Reserve Bank approval.
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.
Remittance facilities for persons other than individuals allow specified donations, commissions, consultancy and reimbursement remittances, subject to AD scrutiny.
Schedule III permits non-individual entities to make specified outward remittances within prescribed ceilings: donations for educational and technical institutes, commissions to overseas agents for sale of residential or commercial property, consultancy fees with differentiated per-project ceilings for infrastructure and other projects, reimbursement of pre-incorporation expenses within a capped percentage of investment, and limited remittances under Paragraph 1. Residual current account transactions remain otherwise permissible subject to Authorised Dealer scrutiny; amounts beyond prescribed limits need Reserve Bank approval.
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