Foreign exchange limits revised to regulate remittances for private visits, gifts, donations, consultancy fees and reimbursements. Amendments to Schedule III revise thresholds for private visit exchange, gift remittances, donations and consultancy fee remittances, subsume resident gifts and donations under the Liberalised Remittance Scheme, define higher consultancy ceilings for specified infrastructure projects, and introduce limits on reimbursement of pre incorporation expenses by Indian entities linked to investment brought into India; certain amendments are retrospective with a non adverse effect clarification.
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Provisions expressly mentioned in the judgment/order text.
Foreign exchange limits revised to regulate remittances for private visits, gifts, donations, consultancy fees and reimbursements.
Amendments to Schedule III revise thresholds for private visit exchange, gift remittances, donations and consultancy fee remittances, subsume resident gifts and donations under the Liberalised Remittance Scheme, define higher consultancy ceilings for specified infrastructure projects, and introduce limits on reimbursement of pre incorporation expenses by Indian entities linked to investment brought into India; certain amendments are retrospective with a non adverse effect clarification.
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