Reserve Bank's Prior Permission in Certain Cases

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....may apply to the Reserve Bank, namely: ^2[(i) Remittance exceeding US$ 1,000,000 (US Dollar One million only) per ^3[financial year (a) on account of legacy, bequest or inheritance to a citizen of foreign state, permanently resident outside India and (b)  by a Non-Resident Indian (NRI)/Person of Indian Origin (PIO), out of the balances held in NRO accounts/sale proc....

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....ming that all liabilities in India including arrears of gratuity and other benefits to employees etc. of the branch/office have been either fully met or adequately provided for; (iii) confirming that no income accruing from sources outside India (including proceeds of exports) has remained unrepatriated to India; ^4[(C) no-objection or tax clearance certificate from income-tax au....

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....sp;w.e.f. 13-05-2002 before it was read as, "(i) Remittance exceeding US$ 1,00,000 (US Dollar One lakh only) per calendar year on account of legacy, bequest or inheritance to a citizen of foreign state permanently resident outside India," Earlier Substituted vide Notification No. 062/2002 dated 13/5/2002, w.e.f. 13-05-2002 before it was read as, "In Form LEG ann....