Foreign Exchange Management (Realisation, repatriation and surrender of foreign exchange) Regulations, 2015

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....tion, repatriation and surrender of foreign exchange) Regulations, 2015    Attention of Authorised Dealers (ADs) is invited to Foreign Exchange Management (Realisation, repatriation and surrender of foreign exchange) Regulations, 2015 notified vide Notification No. FEMA. 9(R)/2015-RB dated December 29, 2015, c.f. G.S.R. No.1005(E) dated December 29, 2015, which supersedes the For....

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....oreign exchange is delayed; or • that the foreign exchange ceases in whole or in part to be receivable by him. B. Manner of Repatriation :- (1) On realisation of foreign exchange due, a person shall repatriate the same to India, namely bring into, or receive in, India and - • sell it to an authorised person in India in exchange for rupees; or • retain o....

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....services rendered, whether in or outside India, or in settlement of any lawful obligation, or an income on assets held outside India, or as inheritance, settlement or gift, within seven days from the date of its receipt; • in all other cases within a period of ninety days from the date of its receipt. D. Period for surrender in certain cases:- (1) Any person not being an individ....

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.... the purpose of foreign travel, then, the unspent balance of such foreign exchange shall, save as otherwise provided in the regulations made under the Act, be surrendered to an authorised person - • within ninety days from the date of return of the traveller to India, when the unspent foreign exchange is in the form of currency notes and coins; and • within one hundred ei....