Foreign Exchange Management (Regularization of assets held abroad by a person resident in India) Regulations, 2015

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..... 25, 2015 Foreign Exchange Management (Regularization of assets held abroad by a person resident in India) Regulations, 2015. G.S.R. 738 (E) - In exercise of the powers conferred by section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank makes the following regulations relating to regularization of assets held abroad by a person resident in India, name .....

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..... ith the general or special permission of Reserve Bank, no person resident in India shall continue to hold an asset located outside India for which a declaration has been made under section 59 of the Black Money Act . 4. Regularization of assets held abroad by persons resident in India - No proceedings shall lie under the provisions of the Act, against a person resident in India who has .....

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..... 0 days from the date of making such declaration or the date of receipt of the communication from the Reserve Bank conveying refusal of permission or within such extended period as may be permitted by the Reserve Bank and bring back the proceeds to India immediately through the banking channel. (Indira Nanu) Chief General Manager - Notification Tax Management India - taxmanagementind .....

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