Permission for Remittance of Assets in Certain Cases

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.... of the Act; or (iii) is a widow resident outside India and has inherited assets of her deceased husband who was an Indian citizen resident in India, ^13[may remit an amount, not exceeding US$ 1, 000, 000 (US Dollar One Million Only) per financial year subject to payment of applicable taxes in India, if any, on production of] ^3[(a) documentary evidence in support of acquisition, inheritance or legacy of assets by the remitter ^14[***] (b) ^15[***] Provided that for the purpose of arriving at annual ceiling of remittance under the sub-regulation (2), the funds representing sale proceeds of shares and immovable property owned or held by the citizen of foreign state on repatriation basis in accorda....

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....se relative (as defined in Section 6 of the Companies Act, 1956) and the settlement taking effect on the death of the settler, on production of : the original deed of settlement; ^19[***] ^20[***] ^11[***] Provided ^12[***] that where the remittance under Clause (i) and (ii) is made in more than one instalment, the remittance of all instalments shall be made through the same Authorised Dealer. ^5[(4) An authorised dealer in India may, without approval from Reserve Bank, effect remittance of assets made by a person eligible under sub-regulation (2) or sub-regulation (3) as the case may be and also allow remittance out of the assets of Indian companies under liquidation under the provisions of the Compan....

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....ion No. 097/2003 dated 08-07-2003, Earlier for the words Rs. 20 lakhs, the words US$ 1,00,000 (US Dollar one lakh only) have been substituted vide Notification No. 62/2002 dated 13-05-2002. 3. Substituted vide Notification No. 097/2003 dated 08-07-2003 before it was read as, "documentary evidence in support of acquisition of assets by the remitter; and". 4. Substituted vide Notification No. 119/2004 dated 29-06-2004, before it was read as, "A Non-resident Indian (NRI)/Person of Indian Origin (PIO), may remit an amount, not exceeding US$ 1,000,000 (US Dollar One million only) per calendar year, out of the balances held in NRO accounts/sale proceeds of assets/the assets in India acquir....

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....Authorised dealer in India may, without approval from Reserve bank, effect remittance of assets made by a person eligible under sub-regulation (2) or sub-regulation (3) as the case may." Earlier it was Substituted by Notification No. 62/2002 dated 13-05-2002 6. Substituted vide Notification No. 152/2007 dated 15-05-2007 before it was read as, 'calendar' 7. Substituted vide Notification No. 152/2007 dated 15-05-2007 before it was read as,  "a Tax clearance/no objection certificate from the Income-Tax authority for the remittance" 8. Substituted vide Notification No. 152/2007 dated 15-05-2007 before it was read as, 'calendar' 9. Substituted vide Notif....