Acceptance of Deposits by Indian Proprietorship Concern/Firm or Company

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....tion basis from Non-resident Indian (NRI) or a Person of Indian Origin (PIO) A proprietorship concern or a firm in India and a company incorporated in India (including a non-banking finance company registered with Reserve Bank) may accept deposits on non-repatriation basis from NRIs or PIOs subject to the following conditions: (i) In the case of a company, the deposits may be accepted either un....

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....ceived by debit to NRO account only, provided that the amount of the deposit shall not represent inward remittances or transfer of funds from NRE/ FCNR (B) accounts into the NRO account. (vi) The proprietorship concern/ firm/ company accepting the deposit should comply with the provisions of any other law, rules, regulations or orders made by Government or any other competent authority, as are a....