Foreign Exchange Management (Possession and Retention of Foreign Currency) Regulations, 2015

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....ion of Foreign Currency) Regulations, 2015 Attention of Authorised Dealers (ADs) is invited to Foreign Exchange Management (Possession and Retention of Foreign Currency) Regulations, 2015 notified vide Notification No. FEMA. 11(R)/2015-RB dated December 29, 2015, c.f. G.S.R. No.1006 (E) dated December 29, 2015, which supersedes the Foreign Exchange Management (Possession and Retention of Foreig....

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.... way of payment for services not arising from any business in or anything done in India; or • was acquired by him, from any person not resident in India and who is on a visit to India, as honorarium or gift or for services rendered or in settlement of any lawful obligation; or • was acquired by him by way of honorarium or gift while on a visit to any place outside India; ....