https://www.taxtmi.com/circulars?id=53517 Non-Resident Indians may subscribe to chit funds on a non-repatriation basis provided the Registrar of Chits or an authorised officer permits the chit fund to accept such subscriptions and the subscriptions are brought in through normal banking channels, including accounts in India. The Reserve Bank amended the applicable FEMA regulations to enable this change, and the circular is issued under the Foreign Exchange Management Act without prejudice to other legal permissions. en-us Thu, 11 Jun 2015 00:00:00 +0530 Fri, 12 Jun 2015 13:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=53517 Non-Resident Indians may subscribe to chit funds on a non-repatriation basis provided the Registrar of Chits or an authorised officer permits the chit fund to accept such subscriptions and the subscriptions are brought in through normal banking channels, including accounts in India. The Reserve Bank amended the applicable FEMA regulations to enable this change, and the circular is issued under the Foreign Exchange Management Act without prejudice to other legal permissions. Circulars FEMA Thu, 11 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/circulars?id=53517