9911796707
TMI BlogPermission for remittance of assets in certain casesX X X X Extracts X X X X X X X X Extracts X X X X ..... (i) has retired from an employment in India, or (ii) has inherited the assets from a person referred to in sub-section (5) of section 6 of the Act; or (iii) is a widow/ widower resident outside India and has inherited assets of the deceased spouse who was an Indian citizen resident in India, may remit through an authorised dealer an amount, not exceeding USD 1,000,000 (US Dollar One million only) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... v) had come to India for studies/ training and has completed his studies/ training, may remit the balance available in his account, provided such balance represents funds derived out of remittances received from abroad through normal banking channels or rupee proceeds of foreign exchange brought by such person and sold to an authorised dealer or out of stipend/ scholarship received from the Govern ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of the original deed of settlement; Provided that where the remittance under Clause (i) and (ii) is made in more than one instalment, the remittance of all instalments shall be made through the same Authorised Dealer. Provided further that where the remittance is to be made from the balances held in the NRO account, the account holder shall furnish an undertaking to the Authorised Dealer that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owed unless the applicant submits:- (a) Auditor's certificate confirming that all liabilities in India have been either fully paid or adequately provided for. (b) Auditor's certificate to the effect that the winding up is in accordance with the provisions of the Companies Act, 2013 . (c) In case of winding up otherwise than by a court, an auditor's certificate to the effect that there ..... X X X X Extracts X X X X X X X X Extracts X X X X
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