https://www.taxtmi.com/notifications?id=117770 The amendment replaces rule 5 to require prior regulatory approval for foreign exchange drawals listed in a new Schedule III, except when paid from Resident Foreign Currency Accounts. Schedule III permits individuals to remit under the Liberalised Remittance Scheme for specified current account purposes, with excess remittances for certain purposes requiring prior regulatory approval and reductions of the annual limit by amounts already remitted. It also lists categories of remittances by non individuals that mandate prior regulatory approval and aligns procedural requirements with the Liberalised Remittance Scheme. en-us Tue, 26 May 2015 00:00:00 +0530 Fri, 29 May 2015 20:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=117770 The amendment replaces rule 5 to require prior regulatory approval for foreign exchange drawals listed in a new Schedule III, except when paid from Resident Foreign Currency Accounts. Schedule III permits individuals to remit under the Liberalised Remittance Scheme for specified current account purposes, with excess remittances for certain purposes requiring prior regulatory approval and reductions of the annual limit by amounts already remitted. It also lists categories of remittances by non individuals that mandate prior regulatory approval and aligns procedural requirements with the Liberalised Remittance Scheme. Notifications FEMA Tue, 26 May 2015 00:00:00 +0530 https://www.taxtmi.com/notifications?id=117770