Capital account remittances for resident individuals limited by RBI; funds under this limit barred to FATF non-cooperative jurisdictions. Resident individuals may draw foreign exchange for specified capital account transactions up to a monetary ceiling per financial year, subject to Reserve Bank revision; gift and donation remittances under current account rules are subsumed within this ceiling; amounts exceeding the ceiling are governed by transaction-specific limits; and no part of the permitted drawal may be used, directly or indirectly, for remittances to jurisdictions designated as non-co-operative by the Financial Action Task Force.
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.
Capital account remittances for resident individuals limited by RBI; funds under this limit barred to FATF non-cooperative jurisdictions.
Resident individuals may draw foreign exchange for specified capital account transactions up to a monetary ceiling per financial year, subject to Reserve Bank revision; gift and donation remittances under current account rules are subsumed within this ceiling; amounts exceeding the ceiling are governed by transaction-specific limits; and no part of the permitted drawal may be used, directly or indirectly, for remittances to jurisdictions designated as non-co-operative by the Financial Action Task Force.
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