TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Notifications
of of All Notifications
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>RBI Amends Foreign Exchange Management Regulations: Companies Can't Accept Repatriation Deposits from NRIs, Renewals Allowed with Conditions</h1> The Reserve Bank of India issued amendments to the Foreign Exchange Management (Deposit) Regulations, 2000, effective from April 24, 2004. These amendments specify that companies or bodies corporate registered under the Companies Act, 1956, or created under an Act of Parliament or State Legislature cannot accept deposits on a repatriation basis from non-resident Indians (NRIs). However, they may renew such deposits under specified conditions. Additionally, these entities, along with proprietary concerns or firms in India, can accept deposits from NRIs on a non-repatriation basis, subject to specific terms. Deposits must be received through NRO accounts without involving inward remittances or transfers from NRE/FCNR(B) accounts.
TaxTMI 
TaxTMI 
