Annual individual capital account foreign exchange limit allows drawal for Schedule I transactions; remittances to FATF non-cooperative jurisdictions prohibited. Permits a resident individual to draw foreign exchange up to an annual specified limit for capital account transactions in Schedule I, subject to the Act and other applicable provisions; where drawal exceeds the annual limit, transaction-specific limits apply. Foreign exchange drawn under the annual limit shall not be used for remittance, directly or indirectly, to jurisdictions designated by the FATF as non-cooperative and communicated by the Reserve Bank.
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.
Annual individual capital account foreign exchange limit allows drawal for Schedule I transactions; remittances to FATF non-cooperative jurisdictions prohibited.
Permits a resident individual to draw foreign exchange up to an annual specified limit for capital account transactions in Schedule I, subject to the Act and other applicable provisions; where drawal exceeds the annual limit, transaction-specific limits apply. Foreign exchange drawn under the annual limit shall not be used for remittance, directly or indirectly, to jurisdictions designated by the FATF as non-cooperative and communicated by the Reserve Bank.
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