Possession of foreign currency limited for residents while authorised persons and foreign coins may be held without limit. The regulations set physical possession and retention limits: authorised persons may possess foreign currency and coins without limit within scope of authority; any person may possess foreign coins without limit; residents may retain foreign currency notes, bank notes and travellers' cheques up to a specified aggregate amount subject to conditions on how they were acquired; persons resident but not permanently resident may possess without limit foreign currency acquired while resident abroad and brought into India in accordance with regulations.
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.
Possession of foreign currency limited for residents while authorised persons and foreign coins may be held without limit.
The regulations set physical possession and retention limits: authorised persons may possess foreign currency and coins without limit within scope of authority; any person may possess foreign coins without limit; residents may retain foreign currency notes, bank notes and travellers' cheques up to a specified aggregate amount subject to conditions on how they were acquired; persons resident but not permanently resident may possess without limit foreign currency acquired while resident abroad and brought into India in accordance with regulations.
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