https://www.taxtmi.com/news?id=2117 The Committee recommends streamlining FEMA procedures for individuals by removing AD discretion and procedural hurdles, adopting declaration based approvals for permissible current and capital account transactions under the Liberalised Remittance Scheme, and advising banks not to insist on Form 15CA/15CB for personal remittances under LRS. It proposes general permissions for gifts of securities to close NRI/PIO relatives within LRS limits, liberal treatment of qualification shares, ESOPs and overseas business investments by residents, joint holding of RFC/EEFC/NRE/FCNR accounts with close relatives, permitting NRO NRE transfers within repatriation limits, and harmonising definitions and operational rules across FEMA. en-us Tue, 16 Aug 2011 15:49:07 +0530 Tue, 16 Aug 2011 15:49:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=2117 The Committee recommends streamlining FEMA procedures for individuals by removing AD discretion and procedural hurdles, adopting declaration based approvals for permissible current and capital account transactions under the Liberalised Remittance Scheme, and advising banks not to insist on Form 15CA/15CB for personal remittances under LRS. It proposes general permissions for gifts of securities to close NRI/PIO relatives within LRS limits, liberal treatment of qualification shares, ESOPs and overseas business investments by residents, joint holding of RFC/EEFC/NRE/FCNR accounts with close relatives, permitting NRO NRE transfers within repatriation limits, and harmonising definitions and operational rules across FEMA. News - Tue, 16 Aug 2011 15:49:07 +0530 https://www.taxtmi.com/news?id=2117