CONTENTS
% ' ! 0
ACRONYMS USED IN FEMA & FDI
I-9
CHAPTER 1 FEMA - OVERVIEW
1
CHAPTER 2 AUTHORISED PERSON
9
CHAPTER 3 ACCOUNTS IN INDIA BY PERSON RESIDENT OUT OF INDIA
16
CHAPTER 4 ACCOUNTS OF INDIAN RESIDENTS IN FOREIGN CURRENCY
29
CHAPTER 5 RECEIPT AND PAYMENT IN FOREIGN EXCHANGE
40
CHAPTER 6 REALISATION, REPATRIATION AND SURRENDER OF FOREIGN EXCHANGE
45
CHAPTER 7 MONEY CHANGING ACTIVITIES
48
CHAPTER 8 MONEY TRANSFER SERVICE SCHEME (MTSS)
60
CHAPTER 9 POSSESSION AND RETENTION OF FOREIGN CURRENCY
65
CHAPTER 10 EXPORT AND IMPORT OF CURRENCY OR CURRENCY NOTES
67
CHAPTER 11 REMITTANCES ON CURRENT ACCOUNT I-5
71
3 4 . % 4 . / #
I-6 % ' ! 0
CHAPTER 12 LIBERALISED REMITTANCE SCHEME (LRS)
86
CHAPTER 13 EXPORT OF GOODS AND SERVICES
98
CHAPTER 14 IMPORT OF GOODS AND SERVICES
137
CHAPTER 15 PROJECT EXPORTS AND SERVICE EXPORTS
160
CHAPTER 16 FOREIGN EXCHANGE RATES
162
CHAPTER 17 OVERVIEW OF CAPITAL ACCOUNT TRANSACTIONS
169
CHAPTER 18 FOREIGN INVESTMENT IN INDIA
174
CHAPTER 19 FDI IN INDIAN COMPANY
183
CHAPTER 20 SECTOR WISE FDI POLICY AT A GLANCE
205
CHAPTER 21 FDI - DOWNSTREAM INVESTMENT i.e. INDIRECT INVESTMENT
214
CHAPTER 22 FDI THROUGH RIGHTS, BONUS, SWEAT EQUITY OR MERGER/ AMALGAMATION
221
CHAPTER 23 FDI - TRANSFER OF SECURITIES
227
CHAPTER 24 FDI IN LLP
242
CHAPTER 25 FDI IN GDR/ADR
245
CHAPTER 26 INVESTMENT BY NRI OR OCI
251
3 4 . % 4 . / #
I-7
% ' ! 0
CHAPTER 27 FDI IN STARTUP COMPANY
265
CHAPTER 28 INVESTMENT BY FOREIGN PORTFOLIO INVESTOR
268
CHAPTER 29 FDI IN INVESTMENT VEHICLE
275
CHAPTER 30 FDI BY FVCI
278
CHAPTER 31 FDI - INVESTMENT IN SECURITIES BY FUNDS, FOREIGN CENTRAL BANK ETC.
281
CHAPTER 32 OVERSEAS INVESTMENT BY INDIAN ENTITY
283
CHAPTER 33 GUARANTEES
324
CHAPTER 34 INSURANCE
329
CHAPTER 35 BORROWING AND LENDING IN FOREIGN CURRENCY
337
CHAPTER 36 BORROWING AND LENDING IN INDIAN RUPEES
342
CHAPTER 37 FOREIGN INVESTMENT IN DEBT INSTRUMENTS
349
CHAPTER 38 EXTERNAL COMMERCIAL BORROWINGS
360
CHAPTER 39 TRADE CREDIT (TC) AND STRUCTURED OBLIGATIONS
376
CHAPTER 40 ACQUISITION AND TRANSFER OF IMMOVABLE PROPERTY IN INDIA
383
3 4 . % 4 . / #
I-8 % ' ! 0
CHAPTER 41 ACQUISITION AND TRANSFER OF IMMOVABLE PROPERTY OUTSIDE INDIA
389
CHAPTER 42 REMITTANCE OF ASSETS
392
CHAPTER 43 BRANCH/LO/PROJECT OFFICE IN INDIA BY FOREIGN ENTITIES
396
CHAPTER 44 INDIAN DEPOSITORY RECEIPTS
412
CHAPTER 45 RISK MANAGEMENT AND INTER-BANK DEALINGS
419
CHAPTER 46 VOSTRO ACCOUNT FOR INTERNATIONAL TRADING
423
CHAPTER 47 INDUSTRIAL POLICY OF GOVERNMENT OF INDIA
428
CHAPTER 48 ENFORCEMENT OF FEMA
434
CHAPTER 49 PENALTIES UNDER FEMA
437
CHAPTER 50 APPEALS UNDER FEMA
443
CHAPTER 51 COMPOUNDING OF CONTRAVENTIONS UNDER FEMA
446
CHAPTER 52 PREVENTION OF MONEY LAUNDERING ACT
458
CHAPTER 53 FOREIGN CONTRIBUTION (REGULATION) ACT (FCRA)
496
CHAPTER 54 COFEPOSA, 1974
524
CHAPTER 55 INTERNATIONAL FINANCIAL SERVICES CENTRE (IFSC) SUBJECT INDEX
538 551
12
LIBERALISED REMITTANCE SCHEME (LRS)
R N D ES%S DOOE N U E I S I S S O V I I S LR I N E T D I D A O A S 3 E R NT I L I T E U I 2O TC H A B) I .G NA T D , $ E ES N O N 2 2 D S ADN I A0 R S I R EO O 3O ET D T S R I TA N!' T . E ) END C ) L N F"NU TU U O A O O O R I 2 T 2 I T I T LC S S T Y C C I A E N N C E A CA I V l D AL R R I F F I A E T E $ O T O S T O I T T A R E P R E R E D A .A T I R C O L E )P S O UR A G OT SO .S N 'O A N A HN E TNO $ H T S MNOC I I C I E S % T XNWE NR C N & R EODM O I UEA ) I R DA E NE T T CI " H A N GC E 2 I C ZD$O I E URS ERC L R N T E I D S A T OO I T R IS F 3 D H E R M T A 2 FT B N O N Y IRU , L E I L O AP$E G NS YN F OA R I SR%M E I A O T A T W I S E B UE DF$H S D N E O RR )C 3 B P2 E CA" 3 A ET E & N UO2E C R , D S L ) C B B O N D N H A R AEE O T T A T I T S G M O T T N R A D T N C I OED S I NBI U F T R MH AUFM RO C O T E F WT S O3 P N2 N H I CEO E OD I2 C EM FC.R I M G@ O N ETE N S E A I R ARA H IN L T N A WT A O I C L T RO R EI B T D S U O I E MC E P V ESMB L T R EI I E HA A O, N2 #D 4UC ) @ 2
12.1 Background
vide
-
T SN I H E 4R R U R A # E YL% A I & C NF AO N l S R N E O PM I T E C A T S I ) N ) A ) R E T L T U N $D U 3E O 5H C C C S 3 I A TR T I N ME E H IT R L R LO U L A S C R A L E L L VL A OE O T EW S S HSE E 4AL I L SU P L 2 P A U A S 3 DN I V O 2 I I D T , C NA I Y L OS T N T C A E SR E R 4 I I L P T D PN N AU I S O U TC I MC H I! 4 L Limit of USD 2,50,000 per financial year for current account transactions for individuals and others ix
D EEFD MO A H OR E TMLA U. S N R HMA # R E NA GAWI S L AU URAT O OGRB P RC RODE R E R R H $ I U PC TDTPE P E C S4 E HL T L H !A CRTA A K$ NU N S O C O XDA E A" I T I A T L T D T # TSDA E U N E IAL D M M E C R S M S N E E N R A T OFRRI O 2 CO E N T N V ) ) N O N GO ) I F O T P S F E I EO U T O NO R A H.O OE S E T C F I S L N RN T U O U FA A A O S D L O I X T U E EAD D C N CEH L 'R R A E E A CTR O S I T R F A N #CUNEN S AD I 4OO O R S E $3DMR E T S O E "TNS C A N 3E N#AA P 2 L A H N ODO D T ,E 3T I T I E 2 N T I I 2W S T C OS M T I EAC, R S E 3 E O YE L R L E L H R O P T 3 P 0 #M 2 E U n A XH , AE AC T N 4 F O S I 3 A O N E P D T LR E3EFM L C # A I T E U O R 4N WP A R A W F DRT 3 # 3E EET=E I H # H D S 0 G 4 T GM0 A E 4F N I E R F T EH E 4AD OA L E R2/HR W OED R C V SOD;XA O SI F E S T SSSE# L NC E E S O I E L R I GN- I E A DR S PI AG E I PF HVEKI4 R VSO E ! E E C O O T BA R I H R RR R, I R 4 OO WP 0I PF TCS @ 20% on remittances under LRS and OTPP w.e.f. 1-10-2023 if amount exceeds Rs. 7 lakhs per annum
T O N E R A S D R A # T I D E R # L A N O I T A N R E T N ) H G U O R H T E D A M S T N E M Y A 0 n
Payments through International Credit Cards are not included in LRS limit and TCS will not apply
86
3 , ! 5 $ ) 6 ) $ . ) 4 . % $ ) 3 % 2 2 / & $ 3 5 & / 3 2 ,
E 4H L $C B U A "S C #N I L P NO P I Y A L P S P 1A A 0 OT= T OO 0 4 RNS L / E LA L WI D SW N N3 A !# 3 D4 2 N , AT A H N T R O S E I T S F T N A C O E I E S F U V F I E N O I DET R EHN P O T 4C 3 A D # Y A 4 E S G M A N E I N L D O R E I R T A S A G D S X E E EA R R L T S E PA L R I RDS A E I E T P H T D S S R A O F M F 3O E 2 E , S ) T NO ; I . D G A R N R EA I A DL D P UUN F L C E E C R P I NC W S I
O TY F FC SF SR RE R EO E DKR WI LO L O S IC T R A MMENE E I OR D C G T N A T S L U PNE I WSN T NT EEI L L E N B O N I T D A ! M R H M S R U O I A U M R I E IT T C R G T V A N S O YR Y A D RAP HR 3I E I D L L C E T G NU NU N D AE C D E A O E NE MPNOA EEIR A MW N 4 B N S C I H E I R 9 C B T F O A N E O G T O R F T M O RL & R F E TI V E T A N LO N R L S O I LNP YA 5 C ES E A R EE R H F G A W A C U AI O S E D D O D C C U T I EO I A( M T M I I MN F ND SNS S CN H GA RS G I UI WES E N M SAO N V W R R N R M O N A I S R I I H E I E L! $L I ST T NR L B E D L E COAT R & T L I N A 3 C O T B I N l A U M N A A C I A O I R N O M U S ERT L R I P V5E E E Y E T A L O C T E SH T $P C T HE T D C AI EFS EO H E R R R T O N & H T T L T S A E L I R S P A R T T R O B D F T C A T S NR P M E P I U I O E O F A E A E N H R VTN&O EJ S AE HM U L D T D C N R A I D T E E I I B E I T T 2 A N T R I R T R WL I U AEY T V TR R S W R V A N O U D 3 I A T S R N A N O T A H T U O E D R E U P N 2EN S( AYE T R SN O HAC R I E R I U O N E C ,MI P S T T $C E T EM H !3 I O E T S O E B S H S T T CT T I N RH M LEA T N H S N A F L M I P O E T E5AA N I T E E O ! U R T L W D G E R I S H O M O A Y O N O T T I O R T MI CN T I P CDES T N C E O I F I E D R E M 3 R C E E E S E HPP V E . YNA T O E IR Y BN S A E C L O M T P R O I A C R O H 3UCC GA N L R O T I C E M N A A H M T SRO T S O RS P 4ED T L E T S E I E E T A OT S R P D O I A T R T C F V G P R A E R DN E N I NA FN TL C R NUN FA O E NA MU U3 MFA I D B I O A C R EA AH E C2 I EG DEDE T I S Y R T V S E T T L R R L E , $ H N R C I I I ! C L S S CI FA D UA EMOAN G A MN R X I R H F R U RS V I I S O PE CV V U E E C E E C O E S W EI A S E E T % T T D R E R D N R R C S E A S R T H O 2N T S O & N EO SEUC A R A L N NA A F T T 4 N P L B U A E N D I R T E E N C N -O E N S S I E E I M D K F D H T I R MS ESEl S NR DE I B N D T N N I R A E B $S I S ) T O I L R NV E E O E A O E E SP N A I %A R ST N WMM E T I UO R S R BE A A PM AI $E E R B H Y D G M H E T S D Y D O O E M B Y A L I L S )E I N A T I T S NE L IBNH TNI B E I I "H E D I M E O I , S H SAC MOM S E L SY VSRL 2C M L C A L N T R S I NP EER3 I RE M A F I I L L E H C C O FS H Y E E G O C I V M 3 E R O T CME 3 TNFH 3M NB OHT H R A O N I N T !2 RT EC H4 2 2$ HN O D E C D I U U E T E T B G C ,O, P E 3 3 I U N N H A, D O O R N L MRH E E5 R NSO TA TA T R O C C E E A C N G H H A O O AEYCFOC C4 E-B H H 5 NS I S 4E 0T NMT A CBBAOT R I I
E DNN UR OI O N NA AI TI T E DAI S C S E A lU T I S Q L I C 3 A L HUA 2 T QR , O D O BFT RE O E F C DT A O N E ND R OI SI U E T $ I R K L S A F A N I H O U A SUT Q B D I C G S A V O A N I I P H D D S T N L E T I I O N O H W HE T N D A. DMG A N N YN U O O I A RD BI R T T L B NS SC O A ON NE I IH R T T OI I I N TR S $ T B I O U C U EF R O AE QDY C S C N C NT S R A A AA OA D R P Y A T D M Y C A O T$ N N R N OA O E B R U% C R A BPS O R C$ U Y AMA O C) S T C R E CS T A" N N E R L2 G P ESE A A F I O ME T V E O I R O R S P TR P S O A N F F EEA C! V V O F EA NOF O E L I R O S B G D A G I A N E S SP N H I T E S I S N N C I R K I L A MIS E R A N DW P U M H RE US O O P E L TL PA O ERF HES 4MA
i ii iii
-
Consolidation of remittance of family members
-
Scheme available to minors also
Para 12.2 87
See
12.2 Liberalised Remittance Scheme (LRS) of USD 2,50,000 for resident individuals
Transactions not permissible under LRS
12.2-1 Capital Account transactions permissible under LRS
-
3 2 , % % ( # 3 % # . ! 4 4 ) % 2 $ % 3 ) , ! 2 % " ) ,
v
LN E DA NR M S L I O ) T U O I I RU 2 T R OP OT C F N . A H E DE T SCR C S E6 I S E E R N $ K T F E A S F NA I DD R E T A D E I NN L T "I N H EU S ) C T R I T AA S& N W F L E E A O$ CU D S I T I T V E S U S% R S R E L E $ R -E U A S T T U) N FO NS O LO D " A N E S I NSY 6E 2 . V I TR TN OI O D I F I N O S T N S NO S S US I I U E T S O E I C T F N *B E N I O P! RTM D E! O U S PN DA R N E 2 I SEP A I S R DM NN E S A RTS E R AA 0 E I S A I P I R O D T WEI M T A N I E OVR R ) O N S D T U O N I M E I # F I I Y C S E T I NNE BA SN H S L O I N I U I AT I C D T 3 C A PA B A3 N OD E MR F E D) LN E G OED EE N T l H I CND NI D I T E D D D E R NUE WS T T R E U GMA S C L I D ER /U C A E O R N Y F N L R NS O U I OSU L E O S F R V SD D E AOS H NI T N T A E D A CT I FC N 7 OL K NA E O L E U P G AD R R Y SI T E $& U NE NT I I L T R R AM D GS FA A A T N N U HOI DE I G EO R T SUP N T T H U X E FEA E T W I T # ! O N E S L X U EO TCO O C NA.
bona fide
iv
LOTGR TN R NT Y$E $FE ED T W I S O NI N N O E E T V D N N E A O M A I S N A 3 M ! N T T I H E E I I I R C I A S I E Y T R A S E A O 5C ET OV L D MDS S D R T A W A D L E R P I W R B SES N A N MTU FE OS N EEL XCS O E E N A A ) E N O P Y E O A O O T L G T O E L C B T D S L D L R I A A A A N RUEL AX TS D $ O R U C F A EV E N R O A C I E N O A NE M F E GT R HU E S % IFVA O OV MR T H TR ECN R A A S P E O R " L B E G $ T N E EP OO OI A ANST A L R E N E T H H E -G L A H UO I DRM I E DMR DD N AT C CD N) A E M E Z N C A I D R N U E O A NAGA" 3I AAE EM R I $ HYXC A Y O V 2 H I R A O C V Y R B E N L E D F O F T E ARNC I S X C A I D T L L O N A N D HSNBAXF N P A EY A P E EDN G I ) R R T G N T NEAHEO C I E O G T S H E D N E M I O S N I I E I BE EC RONSCN I 4N N T . X R V O N G T I I I T D E R E E C S R T O I R O %G! A I C) E E I N A G R T O I DC T O A E S C R D H E G E I E R E A N T N G T F G S R NAMU N S OT DM R I R U DU N N NAl NI F GO U OEFMO US T I A C I I I F I R S N O O A A S S N L N F E ! PS S D E D T P R E AO HA N R TD N G F0 T AY WT 9R T UU3G R T ID GN N O N R O L O O T &TT 2 I A ) ROO YI RN ANUANE N T R E I Y C ,E TAO&E" A U ND O N R C B R W R N M U I H ROS PNA RNG I T !S O AM DOMOR O TU A T UIBTA2 A SEEF E E N E A O M S T H C EOMA) E )L A G R O A EE ENY E TN S C 9C E Y H A S N R ET) Y C T V N L RI A DGIE N I F RN E LC NE2T E A NN O E R N O H E A # EH E A T T L K I M O S AOOS DO AG9 T T I PC N R RH TNMU O C & ATF FA N S X I E D E G T D E B N N T R T NE O O R C E U R & E EOE N E P MA OR G T AR R AX& I EWNR S SE I EH F DSDE R S A U E NR Y P P N P C R E C R T M EU RU T C I ES ODE OT I UN E O UL NO 3SO L & S E E D I M V R L S T N P L F A A C I G P ) S L A F A R T O RR T V AO I S U N LAUN O)I O F MC ! T I E F I EEEE EPSA YTENO L R R POEI 2M E T G I B A R MBO D K L P O G R D A A I OE EA SI UN F ASR Y V FNER YIY NG UA A S) I SO D M NED T I N$T 2ATA 2 O R A E P T E A E R C N I H P 9 DE T EN $ NT MRW O T 0 A I ) R O G L NDP & T C 3 AA TI OA C RTED L YT RBI A E AAIRC L # N S D B I R I ! W R E L O O U B E M I 5 E D A R T E E U T O A M R T R N & I D % $ S P F N I H H O S N B I S M O O S N N E N L O T T ! F S $MA O S S T T H O I I S A I UAE U S I N O E T T I S 3 SE T E S I P R F D C I R R O N C U R I T S E A H T O I 4 5RGI U N P L V L N E S E R T $ ! U S A A I R N OSN SO TQ P G S E PA3FYI FE UU E UNF N O CNU R E O O G I T G B O E DAO DUE P N !K5 TMN T R N S R I TM I R N N A M O X I R A E S V V E A M Z M O U C O N E I O E MUNDI H A I B S B L A I O I I O D C D O C T N A C I IBT G ON N S R )O L A NF RM I ! . S XCO $A X UARI NI C T I N N E H Y G E 3S I T B E 3 R I F R R NA TN T O R I U O I T R OGTE NHEE 2 O N N 5O N OA N T D L E S T S P L L E M G ,E DSER GRITB E I C O SOCE A I N G E D D V E H N R E L $E I T I E N V I M I I EDT L A I V T T O G U R D L R S S U A A I F L MN HL A I P O O F SE T E E I O #3I R L O E R R #E) 4C UT G A O E C CT R R F T T 5$ 0 -
Tour related expenses
88 Para 12.2
Banks should not finance to facilitate capital account remittances
12.2-2 LRS for current account transactions
-
-
Private visits abroad -
Gift/donation to person resident out of India -
Going abroad on employment -
Emigration
-
3 , ! 5 $ ) 6 ) $ . ) 4 . % $ ) 3 % 2 2 / & $ 3 5 & / 3 2 ,
)SIYFN T RE RN SME ER G 3 OT DL NESR $N T RO NR EA YTT ARLE O E I A 2 3O C L T E A S O E A I O I T R P I F A W L T E T R , F UB 5I OREGKT D M A UMA M E C O U F A D N O O B E G E C E I Y E L T T I L OE A ET T U T L I E N V S DE $EK$A T 3 G M S E T T A G A " T N C I I H I E DR S A# NED HT I A S NEDAS PN T SR N I ET GNE I M ET # N EI AYE UI D S O E G H U $ V D N L Y R I I H N S F NNIT YB TE N T OI $ O!RE A I CAI ERA S EIT N O R F H E O C N E L D G X ! MN T E I L L NO T S ESY HI EO Y T D N A N F A E l P A D O EE H T E N D A DE $I R NEME F OI LO E R T R T N M U 2 I R H T A I V G R A 3 S E S T HE T G I OA I I EOC ND B NUTS!M E V T I C A S 5 T EF S RD ! B KH I N AA CR I C E AO NA T NN HNR NE I C R E WT S S OI AG TO AO AR SP ATD OI E T I NT LV F N O T S D N E N F A S NE FAAT I NMEHY PUBFE I O l I ) V E C R UT E A R ORT I I O S ST UO) I WBI R L S E I R P L DL A T E E G TP N H R A YA TJ E I U EA ED S I ET C C E V R E VE T P NNB OVBNGN GI EAU I L R @ EUU E D NWOOR HONON) N O9 N S S ; A F G E & R C O O G R T P B A E NS N R I O E H PT I NNA I XCT E YIAS HDT T E O C A I I C K E TV S G PX AWEI CAAPAO CN P AM N N I XO#A . IIN 9 M I E E M E H R M ET A I ! T A N E R A R A L H I T & B N I DL R N R T " O $ S T O N T I N A S G Y I R E E E R O G D S S O R E $ E D E R G R I E T NPA L N DF E I S!P I L A PI NRA T 3 E EO L EV R E E T E O A T R R R D U C U S A I A S T N GHE R 5 R E E O E S T E C !O D R N DI I OU LP BF S VNTI U EL $E R EE LD A OA F I E I D A C E V V C O A N D I L N T T A I K R $ DA C ES FO OU XE WE T H O$ RE2 PN E S O E V E T B S G D R R DES3 O E O R E S I N T U A I DE P A S I A EB 5 T S I T T O I U R W R ( E S SE ES R C T EH TA CA N F T L E A E TS E Q L O O N N Y O N= E U E D F R R U E H S AA $ I Y HEO R BA US A L STY T NDRO OB S T T S U OA N YAI T FA! H U SNUP M EL L S E U U I E I G T A B M O T R !R I H DE T I AEABA D V N $ M T E E S M R A N I YEH I W O GI OO I % GT V R E T I O V P T Y N T 6 S R N A ONS S A $ L &NG N C )IIS N A P Y A N D A ) A & E ) M! A H I HOAP ES N5E RRB R YI EP CT SS C " OT RCHYA CU N R I D A V N X N DE R M F N T E O R S X ON O $2 T OO RI EOMO GA EI ED YBEI G T N V P I F C A 3 R T I T B E N T T L N E C E R T A C I E U O I L SNE D AC DR WA 5O I T T GI P $ F A A S G I D A A K I D O N M OP EAK N S I E HMS 3 E G! G O R M F T # E N E H C O EA N E S N L R R N E R T N 5 R R T A 9O ER CI A R O)B I I NSP OE O S $ T A H R H F D K E F O &# E F N LU O I A A A F R T WE T O ! T C A EI D P T EIG RE FN A N YSE ED NO NBO OE0 TSS E R S DTML H T BNBE O C N N N S E H A O N O PT L O N LU S N I I A T) I PYT UHET I EOAX T D R D E T L A S C E R L OAE A DAT D EXAF F EUE IE O F Y A O V O M E D I D M S T N E P A EOI M RD V A O AS A E H D K T T U R I I S I T AMY CT A MD E AAA NU PHD T NV R C O I E A O E T E U A EU NR N B QA)N RW AF NT HP OT R N R MT BEM) DS AF A CO )A T O ) I
R ET R EE RH OEL I M UT B T F M S I PS A S A D E N S RAEN R I O S S H F E UWME C$ H R S T O DU% EOEF P ES B SPO O R S $ LEN NA U US) H . AU P EW" T ON A C I D H G BL2 T O I A G EV I N NEF T O L R I U I M C A B A D W C OL E A E N R O E C R C! HI I L H E I L C T L $ T A D O M P N 3 R F G R P E E F A NE L E R H ED A0 I T O C HI T S S R S F T 4E TA A D 3EI RUS H P E E H D N T ES S I N $ HD A U TO) T F NG% E ROF A N E O E $ B D I ST T R D N ) N N N NO E I A" A HEO IE C US 2 M T R H S I I BF 3 E V E N O M A 2 COR $ T OI , NRE P V $ A H S T O ! I E E T A W V V IH' A F E H R O MTE O T T A B EOH A 0 MIV T A 2TF T D RWI S E O C OYRD T A P E R F Y A J E A S F C E D B I B E O I H C I S UL T R lEC N SO E N E MS T0 I N R P E IR E EET A X D CB EP E FA N H R O F L T A T A O A S4 T TM N T T E N I A C O G M R O M EI S SO J R E . N A E F B E R R O N OO P N E I DEC T O H S G&I RH E NTT A TATD N C D I WNSNE S I E I A N S A T I T R T RA A E I U HX RR E " D OOT CE$ T
-
Purchase of objects or art
bona
fides Medical treatment abroad
Para 12.2 89
Maintenance of close relatives abroad
Business trips abroad -
LRS not permissible if employee deputed out of India
Facilities available to students for pursuing their studies abroad -
-
12.2-3 Other remittance and expenses permissible under LRS
Remittances by DD for permissible transactions
-
3 2 , % % ( # 3 % # . ! 4 4 ) % 2 $ % 3 ) , ! 2 % " ) ,
SI A AECR L VAA A D R UN S E N0 D) S I EEA V D2RE I T I D S LM EL NT E ) UHAH OTHC KFG3 NOUS ALOI A R H BV HT AOT R R E HP G T ND I PI N WA T S TU R U T E O P N L I D B UR R I E OPO G T CTF I A L CU D DE AO ES YHS E CT NIUC EWEN A R T EBT R UMYI CEAM NHME GCSRO I 3TM. E N R OEUON H F ORI O DTCFT G R L C C O N E E I HDAS R I I$ DNYR NUCA N R ASE RE RO NER T C I S A HA NUT T ACI N T I N W T A I G $ I D MME % E ER T $ NR OC E F ) E G PN EN" OI N H 2 OK F SA4OO C L M K A S NN N A R O AO I "T ! CF
SE0 RGT OM ON T H! I F O I T 3R F T O SA Y) 2F I # B" R E ,D T 3A T D2 A RE & D P E E ) EDN3 DN NR ER NE I FHE2 UM T V O A ! O, SS #NMG E N OO O CA &I E N T R A TIFBN D N T S O T U N WI Y I T O M OOAN C C C T D C E EC E LI R !D !H LR E EST YT A$ H KE A O C R S SE AN T D NU MO T HS EHPC R 4UIA N: R AC U DHW CIO #3O M E I S . N2R O H T L R E G,P T NA A C I R E UOL E N E F U R DCC I F I ODAE % V R &NR D L I I O E E U A D # F T A N I NC S A I TI I A S NTN N D E T TEE P U E N E I P N 3R OM O EE E OMC C DH T 3 O C I M S S S S A T E IA 2 L E D A V R E ) E HET 2E NH $ YI T D A TI MA N E MB NWED L U0 I H N I S A! EW C S L I L A S ) U D D I ASO I E N" D R M ) 2 DH. G I R N V R NHTA E n I I I T F I Y L PE DPL O W U N E UM ) SC SSN HD TT I T R T E I N NIO# G S T O E I S NUP ST D I F I I #E S V I 2 K E YC 3M E O) A NE R$ &T I 2MA RP ) D E T I B I H O R P E R A S N O I T C A S N A R T G N I W O L L O &
TRN T T RET YGO EL O OC O E N T M I F N)EI N R I S C T EOBET SERT O R I I L & R L E S O B EUUT L WIMA D K # A MD E NMS L S&I I A EETM I A HHN V44RO D S C O T ! CCEI A KE N YFN 33MM T TO&L O A ER OI T AD E O E N C T K B HD R NC ES GF OR 4 A N E I ! S I E R H UND ILL D T T B A S DAE EI N AE O E-DD MC A L N T C T I E EN CK I EET HAANl B A G M N I C VAN I N T A D N H A T I 3& I OAA G"O RHS E SMI PCA HYAESE. S V G YX 4BE 2 R N L % N DI L E I R O K A S EO S N I N CG E T l O T C lI A I I 2 T R I E E "P R N R C I ERY EEESE$ H POAO DTVAT I R D S&-. DE R EYE F S N EO N DO E S T ASlBS E I I E I O)T Y R T T A S2N L P) T C A E E N RED E ET E I UL UR HD R A PU I OTTI R $ CNYSA% YD $ U B P E R NE E OOD I E$ T AH T T CEI S ) T RC S S D" ElN O3SA E E I E V E F 2 RU C T L I S O E SD NT I F E AANDV O N R C 2$ T D SA T E NN % A A I N P AUO RSS MO T D $ OL I T ! ) E ET I GAAA O R " T C MC CRUMR A T D 2 O I ER S S I N A Nl I R V F TNO R UO 0 I RS A A O O D N OER G R C N R F 4 R D S I C F E EMT T E AAA ET L ! T N B S L T EU F F I A OO & A T AI T L W O M R H 4 I I SR A C Y A P T ! WTC E VNC0 A& OAP WT AA! C
SEM R SE NE S HA T E UF DT R I R R PV G 3A OEO HR # D D T 4N I P R A W N0 U F R O D EU E A D R O E SO E A 4 R TF MS AE A RB SE E ES H3 R C D ENE 42 TT AV , C !AT/ T F E EDIFE H C MO T N E W E R A RL E D A NF NS D I E G & O N D I E E U Y R N H B E T S D O M E EOFN C D.NOA N NRODN A E T EA T L=NE 3 A I MU # B M AC4 E R 3E SI V ; R 2 A TCE A S 4 C C,H U ! R S $ O I X UEN " R O A#OMI A S E T S V I HV EDTC R O MNA3 OS OAN R F P E O W C I C E N T O ' N C H L ) L O F EA4 T L O L F T O #S I A ' CM0 XE0 E DA24 R #E T / NA T D O R A E I S E D T S E HL I C NEG G E A OS A I 3 R I H A K T E E C C R BA RI L EE E O, 3R 0 D F
-
Rate of TCS under Section 206C(1G) of Income-tax Act -
90 Para 12.2
Opening and maintaining foreign currency account for LRS expenses
-
Remittances to International Financial Services Centres (IFSCs) under LRS and opening FCA in IFSC -
12.2-4 Prohibited transactions under LRS
Purposes prohibited under Current Account transaction rules
Capital account remittances to FATF countries
12.2-5 Tax Collection at Source (TCS) on remittances under LRS and Overseas Tour Programme Packages [OTPP]
3 , ! 5 $ ) 6 ) $ . ) 4 . % $ ) 3 % 2 2 / & $ 3 5 & / 3 2 ,
SE N S H IH V KO TK A B NA L A UL O F I S MS S E E E A2 2 H G G G F K O N N N A FO T A A A L OS P H H H S UD C C C E C O O O NS X . . . E A2 S S NS NS Y NH NH I I IH IH T K TK TK TK N N N A A NA NA A UL UL UL UL T O O O O TI M MS UM MS MS I AS A2 A2 A2 OL E2 H D E E E F F F HF TL O O O O H H H T I O T T T FS S S S W H O S FS FS FS S E E E E O O O E C C C C R X X X X H E E E T E = TY% N ET T N S = N O A ON 0 UA E I T PE 0 OM R N A RM 4 T C MO UT / O U L I A AR PA ; T D C F RE E I R E C E E D E D T G HE 3 HA L E F T A T N O M N O I C K I FA YI C I F E T D E O ND A B E SV AE P O NON E O S PB RM E ONl I OD M TAE RA O U F P N A D O PO R 3A M CL U T A 2N R UAS SA ED P O DI , H N G I E E ET T RA O O TR H E I R R T RUT RE DC P OOU O F R NU R D T O F F E UD U EI F R T T S ET E O EE T N E N N CI C C C A A NMI NH N NH S A L A A A A A E T T T T T T I E R T T T T C R I R S I I I G T E E N R MNA M N M H ME H E I T T V EE E EO N EO / 2B 2M 2; l 2
L F I A O V NO OR I T P A N3O R#. E R 4A T N L DU ) C HNR GAI U3C O24 R,$ HR T " DE AD# ONN RUI B E AC N DNI O I AT A T S T PI E TMU N E1 UR OS O T MA R !DE EW R S E N D! I S NN OI CD EE BM R TF I O NN O LC L I Wn Y L #P #P )A ST DOD RNE A LT L #I A TWD I S D N EO R I #S
S S S S RERNRI Y H 3 S I I E E OC N C C EEL E 2 S C 3 O N S U NNDVDP H , P I N N N N A # E E S T OT R USUA KERAR 4 C ET R ! T APETO A T S L S DIDS A S E - UE T XDIF N AME2C C N N G M E E E T 3 E E % L S A TFN MR NA LUEB I S R &G OA#D VA K ER D T SEMT A A E C 4 I C T E ES CTC E EE I HEII T T A R R T IA CT H RP DNNL RM RA S O O E O A E O T NN P D D2 YIMF T UP AO F FM $ E S MT DLE F T Q I E O N R A G F T O A 3 M O RMES DAN I TL O R O T I S 5 MEEINB TOESE A G F T R C C B E S T E I R L I A EA F N O O TH CR UA A UL F L F MI A R I S N NA P T F N OBTUQEO IMKSRO B S C N E I O T O LIAR3 T I L R E L S I A # L U T E M A YH D H T U I I S T BL E R V4 OC L C T E O K L 4 U P U E E MT A C D EO S PAMRS O R E D S R 2WH. S E R ALAOLO. nA E L W U T F T R O A R R A R O P B Y E D O B S I H E D A (T A OS T I L EP FL PF SU S I L E R ED N L S I I U R C S D R O2HREAU O U 3 H W E C F S E S C A T H E E F4D LO O V E NS#ER I S R L L S T I R I I R A O A D I 4 U C U C A S E I WTRS # P O PT E I N A L A N S I H D R N N 4 C TM E U E N DA E S E I OHO4 E4OA R Y $ C D X O F H H D ) I R $ C MIL E R E T T D R ES N EO ILA HSER" A " E E O D L S L L N I F R I F I L BNE# 4SB C# S A I C DO O O R E T N C A V H L H N N NOE ON T N R O T FO I H E N A O I T L AL SB E HO I I E SN PE R HE T N I NI H D TS W U EP O A X R D Y SR I U I T E EBIN D L S F E AP LDI 3 E E E A R N H A L N T R P E O I A R A E B B M U I O HTR R N WEOO GEO#T O I A E E T I 4 F C D N A T S R D D H T N T L I H S L DHTRL T LRE O V O OO L U T U T NTNAAAE 3OLOU G I T A S N R O NE O F D TS H AREESHU 2DH R 1 I T E Y A H SD N E E 1 Y E N ,NS W S SV HLHR L I O O P EA S S IN E ADF IO RARBT ETI T P E E E LN M E A S A T L A R WGCLE AAY DE EI R C C CU O N O R R L E N F OI Y S E AO N N NL HHE NSYE A A R W( N A A L STW UE BW E I B P T N T T NE UI A E T T NS S I LS H R D S3 T I O N P D 2 E I I L N L R F T E XCA ! TYU M M MD HIN N L N R E ENT ! H L E U O K, EL EE E AS H DIS n A B H AR E E RW R R H n N M 4 ARI E A M E F 3 S T E I H I D E E EO E N E C F Y E MI 2 T L E EN T L H H HL O N DH( A TR A, FHA I (U 4 4 4A E4 PT A R A) GR NE T WR LA U T I L N S E E RO I CI U A L 3H 3B E DM UR Q R K T 2A M2A DUNE E F OE ,C DUR R A A,L F
d e f
v
a b c
New TCS Rate (effective from 1-10-2023) [If remitter has PAN and files Income Tax Returns] TCS RateUpto 1-10-2023 Type of remittance
Para 12.2 91
-
Amount paid abroad through International Credit Cards will not be considered as remittance under LRS and no TCSLimit of Rs. seven lakhs is for entire financial year and for all transactions together
-
No separate LRS limit for each type of transaction
When should tax be collected under Section 206C(1G) of Income-tax Act –
3 2 , % % ( # 3 % # . ! 4 4 ) % 2 $ % 3 ) , ! 2 % " ) ,
3 TO EY RT S # L!I UA E FR V VF 4 S O T I F E E T RO N O T C HE PT E RO NT A STPRNA UM T I S A G A DR EU H ENE R E M H EI RDRID T X OETWI T MA C O T V C RE !L OM O! C LR OL O L X T ND O C AFP I S E ECT N L = DA HAT L SET O I C E H F CXMO ! S O I EAC T X N F HTN G S A RO T E EI NT ) UM H HF OT T GDE FU O T E I M O . H E D ! O M N C ! O E # C S I X I 0R HE N N A #T I ) E SP TTF HM I O H A NO RH D XT HE T NAU OI SI .W O I T F I B! N I !T RCTF; UECO # 0U FPEN## SB I TS3O H I R E O AO T T E C NR A #ENN DR SO L O I L O V E I F#O L T I A OE O C T C RM DM E EC P E R RO H33 TO E ON T CNTN T NOEID NE I I N D R T I MF I EA SH C U E I E EO T I OE R 3QF L N EC DB AR R R E # RU E P# S EU E R T TDNS T O N E E E O ID T HRUI ME S A 7EDIR EB N R HEV O E O L T BR L I FI HT I T P DR C IW E ECHC E SE HST 3 UT I E SR O HA WO 4 I N P"T R T NEE EHD ETA BOM T SN S A I OE HI TS C I C N !VA O T Y XRI T L APM P T E P EHEA L MTRL OFEA n COHH S T E NP ES W ) 3 R O O FC E L O L H# O S 4 EWF F H S O A S T 'D S U E E N HT R #A4A A P R E L XA I W B ED E A NN O) NT L I Ov A NE V I T A H I I C A H T T EDI T 3NW # O ) FN3 N O S & I TE) E V U N E OE I T h C Y E S3T D2I L L R,C O OR4 C WE& F ED) O HN' . U T E ! TEH I 0 MDT F A O O I M T 3 OE3 T # DC2 4 EN F DA, O T R NT E E EID T M ME N A U 2 AR
T T Y YT N N T N N I I US U S AM AM O2 O2 I I T T MF MF L L U U S S O D AOH A H OD OL L H ESK ESK HO O T T HSA HSA I H H I E E T S S W CL TCL WE E FX F X O O R R E E H H N N T T I I
S S E S CH EX K HE A T L FN O I TS N U 2 OF MO A
Y N A R O F 3 2 , R E D N UE S O EP CR NU AP T T I R ME H ET 2O
If collectee has not furnished return of income
E G A K C A P R U O T S A E S R E V /
Nature of remittance
PAN/ Aadhaar furnished
FO F EAL O H A% OT I S T C D I E E N E FT S I AN SR O O O U R N I P P E NOlT C R R F O Y U I D E UE R T 3 P P ENN A T AI EN CT E A UI D H HT H DMME TT T EEON N R RE l RR E RRF O O E F M OGDD H F F T T N O A EE EIES E N A C C CEI R NT NBAN NN AA L ATTO AO I I B T T T T T N T T A E TC UOU I I T C V II MU MO I N T O MD AS ED EMO B EE N 2 2AL EA 2M I
L TRT R Y D 3 L O L E I C E T T 2 L R NE! T S C A E ,E A LDX EL L SR D A R I INA E R EDRWUT D E D DO EE E C T E N H D T M S RHT E IUI E M R O S GNC L SO F I A EE R NIN O O RCHEIN) H YNTDKOE U A I T A B T D T A H T U A R E T T O A 3I E S E M R I . DR 2MH E R NO D ,ETO R A RRYHUFN L T ERBTSNU U I U I E O DI R C H A E N L E N N R R T E TST I E L D UAK C N I A HI N EEA F T M 4 N A C FT FE YE $ NO ) R N E R V ASB " E AE E I L T T I # CG T H T RT A I I YN O N T N AA M ME T I OFS T E M E I D N T RI T R R I E A ERM A FH N VG O O TAEMEA E R I R EE T YF OWN T S S F O A C E L E O I N A D N (K U I I 3 E A T 1 2 PEC Nv M U ( N IOT , E A LE O T T )NE DUB R M" I EAY R O I E F T2FHSFA E T A Wn L ET BDM SS H AEHA K H N T N E E NW A T G I O R C G !O L I L N E R T L EYNI E U B C O I D K S R F A O I S T A S U S S 2 VN E T E O R T A A F REDETSI S S O M R P DAA R E X E N P T D OPT AhO A O T S U L T T I L T O A R E Y S E N M H I P T VE HDP AT S LER E E I R CD HSTA H AREGTAG E C U F T H E N R ET T E ED OL I L K R H HNYH OEA 4 4UBT CBT
qua
qua
92 Para 12.2
TCS rate if the remitter does not furnish his PAN or is a non-filer of income-tax return -
b
TCS applies even when LRS remittance is made to Bank or FI in International Financial Services Centre (IFSC) a
New provision PAN/ Aadhaar not furnished
Threshold of Rs. 7 lakhs applies to all remittances made through different authorised dealers or different OTPP together and hence declaration from remitter required
-
3 , ! 5 $ ) 6 ) $ . ) 4 . % $ ) 3 % 2 2 / & $ 3 5 & / 3 2 ,
ED S M HLMA O A A 4H E R R T G G SO A O E R R R R3 HP P T R# R E U4 U HOED O T E TLT T SB S A 3A A AD EC E 2S S I ,R L R E REP VE OVP OG &OAF E F FA O O O H K Y T C L EE RA T S E N YP EAN UH DHIO BC NCM. ERRR EU U E P A HS T L EPE T F U R D C ODR MO N& OI I OR E RL Y TC L E F S L E L 4 E P GS B I $ P L N AP E AC I " H K IP# 0L AT T 0PAN Y R B 4PHI E K /AA DD 3 L NE N D# UW O N 4 I T O GL AES S NL K2E 3 I O K F FU 2AO AE M 1 , T DO FB OL RT O T Y E OR DSHE YA E SW GM NI E O UL R P L S 0 O HN SPT D0 DA ! L O4 En O HH H/ HKT T S A E L E E ME R G G H AR EA T SK K O MC O2C AA WFA 3P TOP
TDSR RM ERD N ELN O Sn N AO GU OSRA O E S E C E F O E E I AON LYR U TIAII T W S R A KTA M D M D L C A F R E 1 R O E H CS3 E E E T E D L T 3 U S D C AA 2F R A L R OO M O O T I E I EVI E O PS E L T , O H U D C 2 T F M M R U I R A Q R ) R T R W EE S L V ME ER #R E R$ EH OM E A E AR F AVD R W E S O T LDS R ONO SS CTTS S N C . I A E G D E D 0 E N A E D I O R NR OFUR NS AC F I !I EBA M! E RO A OE T OA R M O N C P EL SDV E C R E A T ) R D A U A S NO BO NC L P RA FNI E " S C ECC A A D X O UH 0 R N ON O R T 20 ST E I SS h T OC AGF I SH E E T R)Y R RIC " N E N E T E S E NA I SUM4 I C4S O P L R M R I E D A PE $ L E E C A P V E E E ERR" A E R H v C R O PT DV VH S I L .E OR# R E UHWT ER A O T T S F T E VSSR Y PF VE E L P ! T L V FN A H A R O S D EOBA UT ONSI R E E O D N H L S V S E T O I 4 R G V H A T T O T T FI S R N NA RE hE I ON A O RENE N I L R S I ' V I C E H D OKT I E O H E SM EOV C F I U T RI MM DH T EO R I S I E OS T O I ET T S TS S PR A C AADE O E FM OFND H P E O . PSEN R NOM C3 U CR I S A 3 T # N R 1 R EO P T F P A U O S C I U4# LSYE T O C D B U I I C A A I 0 L I P 4O T R N T E H O A M C V H C 3TR O R I A T D R F2 C R EA ECF OE I O 'D EE R HS D R E E E S R T UTS N O CE I E,NW ) M I E L S D . S R RAV "PNN UA M S S R N A E N A Q E E R R T C O R R N 2 A D C D ! C A E O P D I O A P S O R S D L NR EFNX I RF AE A NNYn T U E E E E L U H U U Y L ) P C T SMA P Y C T CT VB L 0E E L DP R A O N V A Y S G I C EA SS CLE C EA I BA C N N I D E I S T E V F S LI HRE I D A VR L I NT 4 T vA D R D H I T S T A R E S OM E U $ I UT S HR ROAS M 3ERN D L A T T D T SO " T C E E C L N C A R I S C S D O N # H EC S O EV CRAI I N T N GA R I D N R SA P L F N I I O H UI A HS OE T A S I S Y S R KL C E HC N T C A I E C A R LT I ) L HH CA P A EE S O O E A I S R C T O D N A N D . H N P T R PP R W O P H O U E O O E L A W A T I T L R I S L I H A T V R M P 3 C T L L T U S I T I C 3 A O A A A D N D N 2 E P 0AW L R T O I E T I DEI YN E UEOL , 0R D I L R T H P L T S SS D CA C N PL L D AE 4G3E S C T A O A R R L A O SH NO E N N2 I U OO /R#A E EA CD I !SI # S #F R R T ) OH P4D iii
ii
L FDI TND RN A $A A O NT OAOC !E N UI I EAS N O SYOSOTD S I S R I A E LMI A T L I BDE n A S S A H D I I AMAEM E Y S N C R C N R U D R ON O W ) EERWR O I O U U 1 H CPT O O P L NA T T L TAN F L N L E C S L A U O A I CH AR O OO REU D T AF T F O D W T A C R DU S FTE 3RIE SO N E L E L M E R A EB EA 2PE S WA C B OG S G T ,TR S S I A E NGTN I N RP NI EEES I RG !F ANDK I T I I L HDOA R T T N A A I A A N E H I VTU T L MUPR YO F I C E A ) U EMB E LG R Q E A M R D T G R I EO ON N NOC OT E T U SC AANI CS T I T H A I R R O CDNA O EOEF E RDX P N I F F D O F ) E S R U D L RA A A N E L N E T D C EH R GIEO I P I N S E T I RPT I U R T O SEO T A E R L Q T OO L N VDE D A C A NR O HFO H AS E D D S Y $AS E N DNS N E 3MAA O U T E N O I 5OL T Y T I T F E $ A S E T I RR B3 O P OF A GUX T N C NTE EYD5A U E PT I A E K D H UA Y DOS MI O AT ET A TA EM V . D F $ R I GT OPG O E O R R NS ! U N D T A AE PFY E I N L NO S H TEO Y U OUI N CYIT A M C P TD A XNI A T P R RNAR I EAL MNPU C UONE I S NGEIUM TH P K V T R O 4 N S GI O S C E O T E RP I $ O MC E RB E E DO I " F ACH R A U E E S OQ # H AC HA E E N F T R EH CTE N N ER T AOT FSD I N N S AORN TSORFE A E ) T U D E N S EO ) M T A V T EDHO I L T T O E E T E SA MK HES R E R R C R T ET A E E I C XAUER U HT OW P 2 I EB&PT T T T
-
ii
iii
-
i
-
Scope of remittance under LRS for medical treatment purposes -
Para 12.2 93
Provisions of TCS on LRS and TCS on OTPP are separate and independent –
Remittance for purchase of package tour will be considered as OTPP even if amount is remitted under LRS -
TCS provision for purpose of medical treatment would apply when remittance is under code S0304 or under code S1108. Remittance for medical-related expenses on estimate basis -
Scope of remittance under LRS for education purposes -
i
3 2 , % % ( # 3 % # . ! 4 4 ) % 2 $ % 3 ) , ! 2 % " ) ,
RRNH E C OEO T EC F P L I N N TA 2ES E S A D O! CH A I N E T UD LO C S R E DN APE C E R A R T USV I S E E T D T L R R O R E R SV U RE L O OE E # P O C S T V S S C N LRA A E N A R O E A T NF MPD R X T OS OT S )E O CLS "L REN SAA EES 2E C E I 0FE T S O H h NST R G L O O I E E E D H NV M vS N OO A L NO I E G T E I .OT VE A N I T AF I A D PA D R C O UC G I 4N U S ME OUD hI DMR RDE ED MUEOE 'EG T L E L R I C A N AC S OI .NDCH O F V A W I I PSE P R S C UN DT UNE O ON OO OI 0I R T RT O E C E F . N 'A D A H O CRNU T S EU S A T N S R ODLOS RAE E I T T PEUI DRP N T R CU N R R E E S UO I T UR D H # 0F I S T E S VE ELSAE O R R HEE V H I CE T AR CY H RT R EUB 3 v E D 3SD SW NO SE EED 2 C T D R E I ) US I O A CU V $I CR O N V A I R RQ EB N C T S 0 E AI OLA R S ! A E S T S I NE 3P DE D S E EC OR I D I T T V D3-A A U A R L O20E O EC E NR #,"R S )
TN FL FYEU GO NS EN FH O AI EI I ER ESLTOI T G A T H OD F A S I MT T UO L A I IO E R HYQ W OR L T CBOO R E R W R N DTORN4T OI U ERG0 O T R H I NON S E O T T I A Y G A I I F D R D E DAEWEE L R O R K DT U O T T CA IAO A SR MA NTD O T I RB E MPEOA E N I R 0T RE O DT A M R U 0ROH CA L DL A 4O TC C Y R NOIF /SANAG M E T I L OIMI OE O S I R RDMS T T T L E L PU A O F OO GNE L H C R O AUTE CEO UHA KOOR YO S R CCH L . T ARRNN L UR E E T POOIOSG T I A R L YLO FAAOD E MR E U K O N S T V C AN CHE E R E AR R R A P E I S UR G UA VP XC OOTT O H@ ETE4 RCRA E C H R PAONR FT $ KE F ROS CH " RUO I UT A P NETT# E L OT S OGLON I IN RI T S MO TAEYI I SV V I E K I TN A AN A ESPSEICR X A F N R F T K S E E P E O O R C L D F I I E SET A F T MN S E VO EA R LH D OH OGE E UV @ UI TRINU T CL A GTI1 MI A N C O NGO RHNDRIR D N T H R W E I P T E O T L E T I L T R EEDPAWRN E G HGNXN UI E A O A W O N D I 4K T I S CARTE D N AIEARS R A! PDHNEAS N R E T V G O n E S R)OT OR NB UE N CE O I Y T ODN I TVW E I T D O O SAYO@ R YT L N L OE L NURN SO OT H SA AOOOI FF ii
iii
i
ERD T R FEEE DES EK E C E N ESODCH- N R U N ADT U DETANT% A O E NA O NRU E A H&! M E T R C UEO HMUD T IRA NT I H E N T C R I S O A S T F WEA D E A A L ML T E ! DTE LTG HR L YD0 E E A G N E N T T N R N A NA N OPLU U 2C HI ER D E FS HEP D N I S H CK M S E E L D E A N I E D EC T NWB ED ECS O H A R E A I EX N @ CI N RI PELT T WS M D E A R T L LN E OA OE I TGU LN E R M E T HA !ED VTDM S RO GUGO 0 E MINEIA EE . I U S V V UDE O R S VB OI T I G A OIR C N N R D A N S C E , RVO H I T I O Y HD F LN H AENNL I L T T E NE HMIII N H T A F R R S O T $IOC I ONOHM !T E S T E R H HE S R T E !N EI O W SDLSS ES$ . EE VDIUTES D N ND D A M RNNSPIVO NO I AI HRN V E OIUEMMNI U R S E I D E T CT . T FE OO HS HFAOLIA E R I O E S R R S T N PC ETE C3ALT DO U C A 3 R H HEUAE V 2 N E S GD AT E T I CHP-R N O E , S O E E V M ) N4R I T R E C H R E E O 2 T D E A F $ $ E T L A S A H WH V T R EI R E %R A R N T I BD OY N ROS E UE $ T N T R D D I ( ER AA!$T I YI A A ER M N T H )S V H P E A I U E EMM" T T I U TT EEU S T ER ER2- D S A M IYC W Q E E EA B N O $I NL C MT VEEAB3O N TN GI OOH L&I N E DN I I % C I . A S WHX NT NDCHDEGN N$ $ T E 3 E I E B T N SE I E % DEI I R DI N) ) E R O O& I N R E I N I M EC I HT S U OMR HQ N" E E T T DSOT D) T EUA2 R R RNIE&C E" E N E E T EHF S R Y R2 R VC SF EE SRE TP O M NI A D D E A U K TN HA A3L F TO VO SA$ EO T HEU N NN US NF R E E M R 3 I LHOE O O E L V O E E V ! O M H S I T I ET O T S W SI FO RIDN I 7 R G I T A U L A A E CA T DS NA E RY LD I NR A C A R UMC NS- I UNN!0 O. AD E6OI T T ! S R * R C $ EA I A A DUT T E I 0 R V ADO% H0 I D N D STM= I V T R F E R I N E D N S I $ E TE O CMO AR N A D N A M E F A S F ) I E S S M NNE; E B C T M S S E I N" V A TS R E R R M T 3 A2 N SM 3NEE ET H A E I R V E IC R U 2 2 HI VH F E H, 4O E NO DI T. ,I 4MT ) R3 ST -
Funds can be retained and invest abroad
94 Para 12.4
TCS provision for purpose of education would apply when remittance is under code S0305 or under S1107. Mere international travel ticket or booking of hotel accommodation abroad is not OTPP
12.3 Documentation by the remitter for availment of LRS
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Investor can retain and reinvest income under LRS -
b
SE A H ET S F R O E V / ) 2 N .O I T NC AE I 3 D NN ) I TD N EE DN I l S E E D R NS OA . E AI V T OA T L E DR N@ E; L E V OI T T A DL E ER T T I E MS O RL E PC S) I # L/ A U DA I I V D I N D N) I F TO N EN E DZ I S I T E I 2#
12.4 Facility to grant loan in rupees to NRI/OCI close relative under the Scheme
3 . / 3 2 % 0 $ % 3 ) 2 / ( 4 5 ! / 4 3 . / ) 4 # 5 2 4 3 . ) , ! . / ) 4 ! 2 % 0 /
LIEE TEE R F E NARN R R A E 3 N N N L O I O O O R H H S H O O A I B D E 2 U ME T T 2 T I W T S E S = T A I R N Y D S R T S RRFV LA Y DI , N O D ) L E NCOE NA O O T SE E ER E E EE PEAUTG NN O R R F T O T Y E N SR D P D T DL RI C O # ON H.NM D M L T I O I E E SMS R A O U A E A G M T N N J T H ) S R B I R LAC N . OO U OI B I U I U T #C ERA C E / O # T C R O UN R O N N BOUI / D U R CO SO 2 A A IFDM A HTIRMO A E Q H , O H E I N N EI S RT O S T P . ) T B I R I / V L L D L E E E D l I O C S 2 S I I 2T WD L F R L E EBI A S 2 E E D H 3 A S A . Y C N E . I I E R . H O C T L N R NI N S . R 2ES N I T NVR N I E E U # E R A A$ O A O E V I , F A O R D R E T I H R C I N S VN & SDS T T O T R T T G P I S R D N E U S A E E T A R E D E E T S I F 2 A N CT I Y NRD S T TR HAI OBEI I RN P I O C D T M S O U T D $ E I A N I OS GM S A UM4 EO R CE I E/D S DTL TEE OA SR NNL I R U I R E R D T S NAC Y I S RI E T I C T R R N A E M E R T H D A N U S N S P S A L P C R $ REE IA E ) ETUE W FEI T H I L N A E% L Y M L D I R D D HW T TLTLH /B O E AI I L C HE A A B I 2 T L O G W E R S L I D I NS R D H N A E I T M R A $ G N T I E S C F .I NR O E O N R C R A S I O N E) O UD I L T U E LR2 .EA NL YEFI B U" VNYMDE L AET EE U FN HR O M T H l I Q2 M E G O T R E I HMN TN O OOYFG V I I SO EF H TS C HA NS I L N SME OA D Y.CO S ERI HO I I HEBYDX TI S EESS M TS E A NSA D C P O E N W E E G M T E I T S DW N RVNI CP DA T R H I E T D O SBIT N) Y N I E E E R S N T I E I D T O L N EA NDN N T T L E I V HIU E H H E M BOUC I I S A R OE A EN EN TH IS T T E I V D P # B T S E I I T T T O O A CE UT C DE ES E S DT I EE R OA D W I NRL ABNE R ENIV ME RP A $ I H S A E N H R H N C C S D N E T RREA MBGPC R B A I I E D E E H E E R E E G FD E OO EW4OT I L E L U B T Z T P E I D $ S O R H B F A R B N A E I S T B O E S R N L E B T O I S A DY A E D3TA I HE Y& l YI N L H L R E TH DU TS TSRR L E L 5 E E B AC P U O L U T N E E E A C F A U Z L HI YE L I T WE Y F L O I OFBF A R S A H T O E M T L L S H A G T N L I S DOBO I HOL H SO%F E BV I P ENN H YP E W S S T S 2 E S I N R U S T A F U E M O BS R T N T N L.OT TDN TM T AE I O R TU O I ON C ES AO;T =A N S N A O TN U N B E A W U NANLSC4 NO L E U A U L OI U E UE UM S O L N N E F L S H R O B O A O L M O T L A L R RI N F O AN RG HDU UT MC)MSE AN AT O MA M OA E H G T T E O S H 3 I R H L S T L T H N A A F C N A C N S W E A H R I S I N A U TI T O I E E T Y B N E O D C C U GX N NC E T AG NO NYII MCD NA N MN WR O !N A AN H A D A H A A A S R T N L N O O I%OE I R I T T OA O O YK OH O O G I SR L SC V I H A A L L L L L 4 A TRP R T D T E I P MU T A I GD ER ERP!FI E EI EC E PNNRO D N H HM HU H EAEOR NE NHEL HO HOS FH AI T T T ITRC TF TFI OS TS T RBDBP PWA OD ML L OO #F -
ii
T =OI TSO T E DN E " TD H EE CN2 T T E T DNE I F DR E I A C O MS T V T I E TD T A RR D EC IH E N V! E M E P I R A T T SHEN SC A ) T R A E L E# FEU! I E 9O N B/ R O H AD &YT MAP C TL LA % S L) RI 2 E L U M I A PIAT& B F D OOO. I / H N I S H#S N E G O 2 N A H. I WETT T OT EA PI HC )HN T F U O S #F MTl O T E IGT /OOCT I R L $ NO I M E3I D ) A A 3 H D. E 2 U) E R 5T2L , . / C H FEE C" N42L E OBH AO N2 TD I . I B T OI L R T I R M T U E N G C A T F I I O I TE L = E3 L N S H F L WT 3N I Y2 UE L G NAON ATIL, W ) R A EIRC E SC I E TCA EL H PDC!S VAI T UEI A OUTNR RNNED EDNAE l N O E I U H E D D RP V AET T T OlN I E A U N C D T EDE MEUA E I 2R NA KSL H D HI D T AAE T T T T I E Y E E MV F N G W B I % ERB E I N G I UAY ED R NT I N R C E Q A AL I I A BS S HUE E CE D D E T D RHRM LR L@ T R2 C U A / U; T OAARP3 N L O D T H R I DA TU WO NM T ' I UEN S O ; T F V E EO N DS I DI R M L 3 I O D D UEE V I R A U2S NI S C I D T O,NHH E F TNF2 I M ETT E I N O D A G YE OB HT TYNH EN TT DE F AOC I RR DD I E E G S . E O U D W EE D E I EDNA S H T CA R EF S NO X YH E !R BT O 4UDMED
O . N O I T C E R I $ R E T S A $ % $ ) " 2 F O " A R A P N I D E N I A T N O C E R A S N O I T C U RD T S E T NA I ED H 4
12.5 Operational instructions to Authorised Persons
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vii
b
a
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c
Para 12.5 95
i
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iii
iv
d
v
vi
12.4-1 Rupee Gift to NRI/OCI who is relative of remitter
3 2 , % % ( # 3 % # . ! 4 4 ) % 2 $ % 3 ) , ! 2 % " ) ,
LF TED RS SECEDO ETL EKE OO DNES T O WR N T S C G R HE UCA E VEGA NR O N N R K N R S SEHT NEINNTU OUAO T I SO E W I P I E S S A T L O N S A3UALFS T N B R N S L I Q I S L S F I N N E MH S N O I I A OO MR O OE T E I TETE I F ) V E O E N W T A C I C W H V R M U R O O I R E N 2 T O I L R T X T S L M C L E N O N A E N Y U O R I O N A L A S T T N U T OEW T E R H A EP N G LIN C I E R OID S I T ! L N D R H N R H L ) D H E I E I A EU DP A N AS 7E I H T ET U EA" T L WED EGR 2 IU VO Q T E C T C I S M S 2 I I Y H R W A 2 D E N E T Q EAER 7E ) S I E W R T R UBMUH O S O O F E U " G R S O C E O L R SDNRN CNEETT R E Q I N L E R 2 A ! BFIR R N AOO O E O I S H E R C O I N E R I GN I R LV U F DI T HRNT R R E N L E P O E E C N T E D Q A CTOC D O E T A H I A D HT S I I E E T I E E EHE SDUH I NC L BNI S T T T R S L C EA N T R R R ESTN S A Ol A NP I R E N OEW U B S I F! P M E H E H D R I E T T O M PI L TV O T SEA R T E R A C K O E Y C A E R E E L , M A O O O N YR L T D U R SN L E MV A H T P YC HAHRO E S E L T S NE L U Y E T T R L S A AE R EN M E T OM ALZTM NI D Y P I $ O T I E U E R M O I R MU OR N R H OI OA E E EC F O N S S F $MO O N CC CN G N I C ADA WOATH I SS I l V N E H P N O A E E A Y R I D O E N S H ON S T R A E Y E NG T T Y G E T I R E T N U E RA T R P ET I R L TNFNO NKI S S A S PO A S A T EN A A N I AI WOA EIR O AT SFH O R ET B! H N HTF HME E R R A O O H E O N Y T L $ D T S E HE NEOTCS S R L HEE A U L O R S X G G T 0NE L V T DE YEI I GE ODP ER H N U A O EH CNM!HE N$ DELST YN WDI T A I O C P B H E N U ! F I I Z E L D DA )ET O P N I H I A H V D H G U S R W E R N R S UC R SCT "R A T I I NU LH G SE A I EOE OE OR T A L X N L R S O 2 O T E T S L G W A O N R H I B A H L W P T % O T E R I OSPR T HY H! A ET T UE L YN H R R Y O SI U HFAE SB P L N E I E E D L E W LG H C L DP !E NR I EOS 4US D !LH U I D I T T U I E I V I ! H I E NH LR H UR NE FE U M T U I R L -W TI ST KC E OWC FE EI D R AT GO ! OY E R E A Y W % A O H N T H F A O C C L R N A N v F E T S B I C & I S T R C& SDA T CO NTTOP O A Y N T E E I D R C E R N M E A T D S T T N BS AAER Y C YE A L L E M H U R C A R C E T E E A B N AD R T I T DN RNNO A N C O ! R A T G T A O L O D P ! A I A I I I ER P I R S S N MN T D I E !OT I L A I C S U C E E S S lT L N L U P T O H T E I A M I Q H E U U D A L T-TAEPPAC T S B R F H D G T D R % P E OE R N R M N # NE A M % E O T X S R H N P F O T& HH UA OU VU&I RO ORS OTI CEC NA F EO SS RO T OI I STO EO I H EN U T NE B E R H F H S N C F S H N S T B Y OYG E L YTO O CHSN T I YA U E I E S W O T O A 9 I E 0S R I N D I ATD ES F I T HI NR L S L O A T S F G R O I F K E T 4 O S A U T C W O C DN W V NHDOE T O N W C R A T O N I S N C C A U O A ET E I D N T O O A T O I U N S ANN S AR F N RC Z DA HE S L O L N S N T I E R F L I O T I A E S R S I U S N N ) N E R S R A E U S A I + T R M A OC IDO T HU EEVS NDAX UE H C T A E h V l I P E I K L N B N I E U T L HI C C A T E I OL V M T O R T I A N I T U N T G D S S C Y Y N CI O A E E E A R GH V H O E U A N ONON OF NFEH CH E RH OT H" OV NT I MD WF $T !. UT O AW ATIPT AOBT I
ET EDOTE DGY E L HN UETOH NB R U U I T S TNT R OK O EDIN R Y S HC O T E H HU OAI T B ET S T I C C T H S N I R WA D N EOTL E U N L KYUPEE L TA L O O A AR!PMl N T R C S E UI MA EAEN R C $E OP CHET A R O 4HAU CA DPK D T T T CC E S T L E N AR S E GUT O H M I N A K 2 NOU R T KF B N O I O H NS K R ORAO O S HT AE ESCF B T T BC ESC R U GN R R N S A AA E E ! A N ET A EHD L TA I EY C HT EG N I R H T C L I H E NP A 4O DM C$TSU/ F P U S I LA EE O L O T E D N NR F P BE I EEI) E P V E C A S E A M SH H I T S N R R T DT N DS S AP EO I NN O N N H A HE T UO EUE T T S MR F N FUTHFS N T O ) F F! !I EI W O R O A VR A TR KMO X AP U N FEA HR D C 4 T OE A ADN R DE E BNE U L DU Y U EQ EA OM M S N OE VE HO O EEC I T HN H T E IA SO HN FT CC T ) O A T EA SF S R O T T R G RE S N Y E SB PKNE AD I I N D T M O CO D I A E A T I R OGB RL S L N N T E A E P I E E S N C PP UINGHA MN T E I AM N T CE B A R A YT T FO E A S P W B O T HU PI E E O O E 4M S V M N I E E DLEB N E I E HL H Y AT I R T USPA MS O S E NOMC TH M I A O H E AN O S T H ESHET E RI T N T E L C C S OT C A K EA R N N F YBC A A R E F E A I L KS L U L S I T G A I NN P T A SM I T I A E L AR NO VP I A MD $S BT AA ET
Remittances should be out of own funds of applicant
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Due diligence in case of new customer
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AD Bank to follow KYC norms and Anti-Money Laundering Rules
96 Para 12.5
No document specified by RBI
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AD Bank can prescribe documents to be obtained by branches
AD Bank to keep records and report suspicious transactions to RBI
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AD Bank to ensure compliance of income tax TDS provisions
Applicant should be customer of AD Bank for remittance of capital account transactions
) " 2 / 4 ' . ) 4 2 / 0 % 2
S O E DS RS EN SSE I R S HDN LE EECCI N I L I A E L U C C T NA HL E R A A N T TAR ON E YAT TA B R N A T Y ASE HA $ R O EET T E T H S U A A HI I $ T T D S DOS I TD KI MO N M TI T E M M C Y T N E E E UDE S R F N E G A RE E N E I C I 2 S E R T R I E E R R B V E I DR L A O D I R E OT L ND F A EET $ H O T A L O l A E N EO CB T R A H ! S R A M O U $H DG T O T I I T I C DL C L !EFLG U P A S I I DR E U LS C OERF E!P T EA OE N A E C A MB S S C HNO OI F I NEE F I R H I C T E SIT O A R OH O 4 T R T C NO,W& T T HT N E S OTEW4 IE L I T RU L R F H M A A U ! N E W T S OS U R !O E SMT & EU R E $ ! R D A YN D IE R T YE OM T R I BI I V D D & B E A S E I HCR EYH 4MNB DC S D LO E LT N R I !OUED 4A D T E R M H I W /A R I & C l M& S OE T F TE Y I I NET R HI N YP T RW H BTO O OY E S H EU AR C I D I N NM T T D3 0P DL C !NE I C S M S E E E S I A E l S T N E E HU ERA HS TH F I IT RH T I T A NER D O C B R 4 D OT N EACT ND N I $E YR TR ETRA E L O D U T A R S D T 3 D C E O DEYO 2 I D C I T N C A C C EA T NI HM I U SPT E R E D U AE L E %R I I N I S R D C G V 4N MR Y I N T L NYI %O T EC EE AO N E G F I A & L H I U $H DD T ND R T I P I O E N C NTP YG AA DA D E CR I AEO E BU MM ES S E O D R RR GE CN HOHO EK C R A T T OH NA FR D CSPO R I T O N T FAERC O TT E S D N B T O HUN PA E UN C NN DDCPO EE OE TN IU RNNSN RR A I CM OA KO OAR F EA H C Y T S CY NT O C E P BT BE $ E AA I SI NC T L RS I RO LR 3 M AA RR I SP E I I I E E DL AOE&L WP5 H C T A H T H O N NR NT PIT S R E E E I E S OT A E E A ERYM L P T T T T MA H T H KEB X A P T A T TE T I EC I YT EL EYS T N D H H B M T C A E A AS R O C O C EC NI EH N O MA H 3 E ML DA R F T3T T
NMR WF DRY S S S I I A D N AO E I N E E E EOR AO I T D A I R A H H E D R E I I T P PK RET NFTEVD F T ROBL A L ) R NO A STA O A OSYU A T I SI T)G NMFD R A G S N O S AG PNNI I L GTNME LONOIIV I T I O P G E C R A ANSUD2 WEAPPNH RIOFR G L D I L E P E E P A A N T T B E P SYPAHE I UGK O A CRNTKN OSDT E N NO R U R E AE Y N FIMA A I A S C M M A S R O I D T " RN I RME GENSH NRO A I F E F T U H T ) O A O NC B R I =C SRT NT I EI NCS SRS M NEN V N U N I D H SR R AEC S H GN EU Y GI ETES E NM HNV UACRNN NE O U T T I R F GR O WN& T RGOITT T I R O I E L O L A R A NOE F A EC A R A R O F R S CP O UTCL E I ON E RFL S ) O O A T O PT O S F F S PE& ONUNTU C O"G T P$R Y E N D AEO S SEMYI BY H2NE I KMSA RV R TMI TGEGO S O I G L R NEA I H A & A S MGDTS NOC I AI I E 4 R I I S N N H H T BR TR S SV I I OV DFLS # T TPR ULOAY NEE N I N EE LASGNN GVVEGE DP CVRNAI I D U O I O E S O N M E D T PRC AFE SI R RFC R El OIY S M P R OHO S C S N T E PEA GF F E I I N G O R R G A T F S S / H A E C FUL I R O I N T O E R E O A L R I F OAEP SA R R H E A H V O RE E R RH ET UR O R I -T D S C O E O R F D C F T I T B A L S B N S V N LONA A L DPE E E R MGNEA R K T N G I E # H S N; OE S D E T I UI CSE A AE I E E S NT I HNR A NLNI I S R E N E A E C E AI OD A 34T 'D R !L D I T N R O F I C L 2 N ) N F D O O B PI S NE U GN ) T S,E NO SAI EENI F ) H A NRHD N A I H H I T C E EE #O E H l I S I T D CT NU ED S K C EN N N R I O N A BN A GGL HA ) E I GT E R NOE BD I V I S N S E " VUBOT O ASSTCSE SNIORT E HTASEER K)M O V D P E N N T N F E E SEERO M L NI G R A S R S U R KD E R EA BEHIE S E S T P N S NIE C E H HR S R L O E O AE VL L NYO FC T I ! BR D2 O O OC EBF ST
TT EESSI NX RO DRAKB R IEO . AOWN N F E P L N ME S TAR E B E O SBI B IHR T I W X R $ E RE T L C I CO ! F I N E . L N R R OO@ ANA I HS I S O T T P D $ S E S T C T I A I ; E T N A R S O MI NL RH S E T ES,U NIP S S A S 2 R F I AU UA R NB"O, T B D OY8T L 2 FU L EO A5 H $ NHHT OTG TEO % A N D H E I S D U T E O S& H HT OS A O S O ) L 4 A I C MMRN K" D NE N2 RAHSM R T ONS I U HA F F EE FTB O O T E N R S T I OY$ ) O E Y A ) E3L . TB! T H S H2 ET R T R 3R D H, E&A E D A R E R T L S I E 2U ISH 0 I U I E H S S N C H N Q / I I A R C RMI G 7 I N EB N UEH E N R R # H FH I U ET V OCW=TS E F I R R T 3O3NE E GO A & I I P 4 B EE D T R E S 2 S EC E O R2 KY H E R 3N / NT I R LT A@ U AN U 2 AIS SN T QT OMG ) BAI NO A EI I O M $ )DT EF R I M A T A T L E S C Y G R E I ND U R 0 Y N N3 2I A @ R OOO T N G ! S W KD GD E3 S O E A E ) N 2 N T NS L S I O" A I , A AILL L L I O S # 2 D P L C A BR & F R I E E A )E NT T ESUR $D A ) BHNOB ! N ED T R T I Y, D Y X NUA UDS R FT D O O E F N D E E O N GH S R I O A 2I G H ET T O I V I T T T N S D E F A RI I NDN DAK M A #EF I M I R A D L R G E E RO $N N O R R OW H/ NF !UT & O) A
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i.e.
Para 12.6 97
No remittance to ineligible entities
No credit facilities to applicant for capital account transactions No remittance of capital account transactions to FATF countries
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Reporting by AD Bank of transactions in LRS
Foreign Banks and Indian Banks should not advertise LRS scheme without approval of RBI
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12.6 Reporting to RBI
FEMA & FDI READY RECKONER AUTHOR PUBLISHER DATE OF PUBLICATION
: TAXMANN'S EDITORIAL BOARD : TAXMANN : JANUARY 2024
EDITION ISBN NO NO. OF PAGES BINDING TYPE
: : : :
20th Edition 9789357785211 580 PAPERBACK
Rs. 1450 | USD 19
DESCRIPTION This book provides complete and accurate information about all provisions of the Foreign Exchange Management Act 1999 (FEMA). It also includes guidance on all practical issues faced by companies and FEMA professionals. The key features of this book are as follows: • [Topic-wise Commentary] on 50+ topics • [Comprehensive Analysis] with relevant Rules, Judicial Pronouncements, Circulars, Notifications and Master Directions issued by the Reserve Bank of India • [Focused Guides] are given in the book on the following topics: o Liberalised Remittance Scheme (LRS) o Overseas Investment • [Legal Context] This book covers laws relating to the following o Prevention of Money Laundering Act (PMLA) o Foreign Contribution (Regulation) Act (FCRA) o Conservation of Foreign Exchange and Prevention of Smuggling Activities Act (COFEPOSA) The Present Publication is the 20th Edition & amended up to 5th January 2024. This book is authored by Taxmann's Editorial Board.
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