Foreign Exchange Management (Realisation, repatriation and surrender of foreign exchange) Regulations, 2015

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rrender of foreign exchange) Regulations, 2015 Attention of Authorised Dealers (ADs) is invited to Foreign Exchange Management (Realisation, repatriation and surrender of foreign exchange) Regulations, 2015 notified vide Notification No. FEMA. 9(R)/2015-RB dated December 29, 2015, c.f. G.S.R. No.1005(E) dated December 29, 2015 , which supersedes the Foreign Exchange Management (Realisat .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e foreign exchange ceases in whole or in part to be receivable by him. B. Manner of Repatriation :- (1) On realisation of foreign exchange due, a person shall repatriate the same to India, namely bring into, or receive in, India and - sell it to an authorised person in India in exchange for rupees; or retain or hold it in account with an authorised dealer in India to the extent .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... on, or an income on assets held outside India, or as inheritance, settlement or gift, within seven days from the date of its receipt; in all other cases within a period of ninety days from the date of its receipt. D. Period for surrender in certain cases:- (1) Any person not being an individual resident in India who has acquired or purchased foreign exchange for any purpose mentioned .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ave as otherwise provided in the regulations made under the Act, be surrendered to an authorised person - within ninety days from the date of return of the traveller to India, when the unspent foreign exchange is in the form of currency notes and coins; and within one hundred eighty days from the date of return of the traveller to India, when the unspent foreign exchange is in the form of .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e into force with effect from December 29, 2015. 4. AD Category- I banks may bring the contents of the circular to the notice of their constituents concerned. 5. The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions/ approvals, if any, required under an .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X