https://www.taxtmi.com/news?id=15018 Declarants who pay taxes and penalties under the undisclosed foreign income regime will not face proceedings under the Foreign Exchange Management Act for the declared asset; they may dispose of it and repatriate proceeds through banking channels within the prescribed 180-day period without FEMA permission, or apply to the Reserve Bank of India within that period to retain the asset, subject to extant regulations and possible refusal requiring disposal and repatriation. en-us Fri, 25 Sep 2015 09:39:09 +0530 Fri, 25 Sep 2015 09:39:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=15018 Declarants who pay taxes and penalties under the undisclosed foreign income regime will not face proceedings under the Foreign Exchange Management Act for the declared asset; they may dispose of it and repatriate proceeds through banking channels within the prescribed 180-day period without FEMA permission, or apply to the Reserve Bank of India within that period to retain the asset, subject to extant regulations and possible refusal requiring disposal and repatriation. News - Fri, 25 Sep 2015 09:39:09 +0530 https://www.taxtmi.com/news?id=15018