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FEMA - Highlights / Catch Notes

Home Highlights February 2019 Year 2019 This

If the foreign exchange has been acquired by way of gift or ...

Case Laws     FEMA

February 5, 2019

If the foreign exchange has been acquired by way of gift or inheritance then even in that situation the provision of section 4 shall not apply. The reserve bank has not prescribed any limit for holding the foreign exchange in case the foreign exchange has been acquired by gift or inheritance.

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