TaxTMI 
TaxTMI 
Manner of making Overseas Investment by resident individual
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....ty capital or OPI in the manner provided in this Schedule and unless otherwise provided hereunder, shall be subject to the overall ceiling under the Liberalised Remittance Scheme of the Reserve Bank. (2) A resident individual may make or hold Overseas Investment by way of,- (i) ODI in an operating foreign entity not engaged in financial services activity and which does not have subsidiary or st....
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....es issued for holding a management post in a a. foreign entity; (h) acquisition of shares or interest under Employee Stock Ownership Plan or Employee Benefits Scheme: Provided that ODI in respect of clauses (e), (f), (g) and (h) may be made in a foreign entity whether or not such foreign entity is engaged in financial services activity or has subsidiary or step down subsidiary where the resi....
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....ct or from a person resident outside India. (2) A resident individual, without any limit, may acquire foreign securities by way of gift from a person resident in India who is a relative and holding such securities in accordance with the provisions of the Act. (3) A resident individual may acquire foreign securities by way of gift from a person resident outside India in accordance with the provis....