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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 ..... 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 a person resident outside India during his stay in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ces 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 imposed under any order issued by the Central Government under the Fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed 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 Non-Resident (Ordinary) Rupee Account (NRO) a/c of the NRI/PIO and credit of such gift amo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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) Regulations, 2000; and 3. Liberalised Remittance Scheme means scheme as notified vide A.P. (DIR Series) Circular No. 64 dat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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