TaxTMI 
TaxTMI 
Prohibition on Remittance outside India of assets held in India
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....rules or regulations made or issued thereunder, no person, whether resident in India or not, shall make remittance of any asset held in India by him or by any other person: * Provided that the Reserve Bank may, for sufficient reasons, permit any person to make remittance of any asset held in India by him or by any other person. * 'Remittance of asset' Define Regulation 2(v) * 'Remittance of asset' means remittance outside India of funds representing a deposit with a bank or a firm or a company, provident fund balance or superannuation benefits, amount of claim or maturity proceeds of Insurance policy, sale proceeds of shares, securities, immovable property or any other asset held in India in accordance with the provisi....
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....made in Installment * The remittance is made in more than one instalment, the remittance of all instalments shall be made through the same authorised dealer. (iv) had come to India for studies/ training and has completed his studies/ training, may remit the balance available in his account, provided such balance represents funds; * derived out of remittances received from abroad through normal banking channels or rupee proceeds of foreign exchange brought by such person and * sold to an authorised dealer or out of stipend/ scholarship received from the Government or any Organisation in India. (2) A Non-Resident Indian (NRI) or a Person of Indian Origin (PIO) may remit through an authorised dealer an amount, * not exceeding USD 1,....
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....ons of the Companies Act, 2013, subject to the following conditions to be fullfilled: (i) Authorised Dealer shall ensure that the remittance is in compliance with the order issued by a court in India/ order issued by the official liquidator or the liquidator in the case of voluntary winding up; and (ii) no remittance shall be allowed unless the applicant submits:- (a) Auditor's certificate confirming that all liabilities in India have been either fully paid or adequately provided for. (b) Auditor's certificate to the effect that the winding up is in accordance with the provisions of the Companies Act, 2013. (c) In case of winding up otherwise than by a court, an auditor's certificate to the effect that * there is no ....