9911796707
TMI BlogReceipt from and payment to, a person resident outside IndiaX X X X Extracts X X X X X X X X Extracts X X X X ..... 400001 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 08.05.2000 - G.S.R. No. 403(E) In pursuance of the provisions of Section 3 of the Foreign Exchange Management Act, 1999 (42 of 1999) , the Reserve Bank is pleased to permit - 1) any person, to receive any payment a) made in rupees by order or on behalf of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owards meeting expenses on account of boarding, lodging and services related thereto or travel to and from and within India of a person resident outside India who is on a visit to India; ii) to a person resident outside India, by means of a crossed cheque or a draft as consideration for purchase of gold or silver in any form imported by such person in accordance with the terms and conditions im ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... regulations, directions applicable for making such payments are duly complied with. 2 [Gift in Rupees (4). An individual resident in India may make a gift to a Non-Resident Indian (NRI)/Person of Indian Origin (PIO), who is a close relative of the resident individual, in rupees by way of crossed cheque/electronic transfer: Provided that - (i) The amount should be credited to the N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (Borrowing and Lending in Rupees) Regulations, 2000 ( Notification No. FEMA 4/2000-RB dated 3rd May, 2000 , as amended from time to time. Explanation : For the purpose of this Notification, 1. Close relative means relative as defined in section 6 of the Companies Act, 1956 ; 2. NRI, PIO, NRO account shall have meaning as defined in the Foreign Exchange Management (Deposit) Reg ..... X X X X Extracts X X X X X X X X Extracts X X X X
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