TaxTMI 
TaxTMI 
Clarification - Liberalised Remittance Scheme for Resident Individuals.
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....ed Dealer Category - I (AD Category - I) banks is invited to A. P. (DIR Series) Circular No. 64 dated February 4, 2004, as amended form time to time, A. P. (DIR Series) Circular No. 24 dated December 20, 2006, A.P. (DIR Series) Circular No. 9 dated September 26, 2007, A.P. (DIR Series) Circular No. 51 dated May 8, 2007 and A.P. (DIR Series) Circular No. 32 dated October 10, 2011 on the....
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.... to the provisions of other applicable laws such as the extant Foreign Trade Policy of the Government of India. 3. All other terms and conditions mentioned in the afore-mentioned Circulars shall remain unchanged. 4. AD - Category I banks may bring the contents of this circular to the notice of their constituents and customers concerned. 5. The directions contained in this Circular have be....
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....y currency).................................... 2. Purpose ............................................................ III. Source of funds: ................................................. IV. Nature of instrument Draft............................. Direct remittance............ V. Details of the remittance made under the Scheme in the financial year (April- March) 20__ - 20__ ....
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....ar as per item No. V of the Application, including utilisation of the said limit on account of loan extended or gift made in rupees credited to NRO account of non-resident close relative(s), is within the limit of USD 200,000/- (US Dollar Two hundred thousand only), which is the limit prescribed by the Reserve Bank for the purpose and certify that the source of funds for making the said remittance....