Lifting of lock-in period for repatriation of sale proceeds of immovable property situated in India

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ircular No.35 To All Authorised Dealers in Foreign Exchange Madam/Sirs, Lifting of lock-in period for repatriation of sale proceeds of immovable property situated in India Attention of authorised dealers is invited to Regulation 6 (b) (ii) of Reserve Bank Notification No. FEMA 21/2000-RB dated May 3, 2000 in terms of which authorised dealers have been permitted to allow Non-Resi .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... of the period for which the property was held. The sale proceeds allowed to be repatriated should, however, not exceed the foreign exchange brought in to acquire the property. 3. Authorised Dealers may bring the contents of this circular to the notice of their constituents concerned. 4. The directions contained in the circular have been issued under Section 10 (4) and Section 11 (1) of the F .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X