AI Drafter - (New and Powerful) 
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter. 
TaxTMI 
TaxTMI 
Foreign Exchange Management (Remittance of Assets) (Second Amendment) Regulations, 2003
X X X X Extracts X X X X
X X X X Extracts X X X X
....003-RB dated July 8, 2003 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 04.08.2003 - G.S.R. No. 630(E) In exercise of the powers conferred by Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in partial modification of Notification No. FEMA.13/2000-RB dated 3rd May 2000 and Notification No. FEMA 62/2002....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e shall be substituted, namely:- '(a) documentary evidence in support of acquisition, inheritance or legacy of assets by the remitter and' * for sub-regulation (3) the following sub-regulation shall be substituted, namely:- '(3) 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 ....