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SCHEDULE III - See Rule 5 - Transactions which require prior approval of Reserve Bank - FOREIGN EXCHANGE MANAGEMENT (CURRENT ACCOUNT TRANSACTIONS) RULES, 2000

Extract

..... es in connection with medical treatment abroad. (viii) Studies abroad. (ix) Any other current account transaction: Provided that for the purposes mentioned at item numbers (iv), (vii) and (viii), the individual may avail of exchange facility for an amount in excess of the limit prescribed under the Liberalised Remittance Scheme as provided in regulation 4 to FEMA Notification 1/2000-RB, dated the 3rd May, 2000 (here in after referred to as the said Liberalised Remittance Scheme) if it is so required by a country of emigration, medical institute offering treatment or the university, respectively: Provided further that if an individual remits any amount under the said Liberalised Remittance Scheme in a financial year, then the applicable limi .....

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SCHEDULE III - See Rule 5 - Transactions which require prior approval of Reserve Bank - FOREIGN EXCHANGE MANAGEMENT (CURRENT ACCOUNT TRANSACTIONS) RULES, 2000

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..... funds (not being an investment fund) promoted by educational institutes; and (c) contribution to a technical institution or body or association in the field of activity of the donor Company. (ii) Commission, per transaction, to agents abroad for sale of residential flats or commercial plots in India exceeding USD 25,000 or five percent. of the inward remittance whichever is more. (iii) Remittances exceeding USD 10,000,000 per project for any consultancy services in respect of infrastructure projects and USD 1,000,000 per project, for other consultancy services procured from outside India. Explanation:-For the purposes of this sub-paragraph, the expression “infrastructure’ shall mean as defined in explanation to para 1(iv)(A)(a) .....

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SCHEDULE III - See Rule 5 - Transactions which require prior approval of Reserve Bank - FOREIGN EXCHANGE MANAGEMENT (CURRENT ACCOUNT TRANSACTIONS) RULES, 2000

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..... roject, for any consultancy service procured from outside India." 4. Substituted vide notification no. G.S.R. 349(E). dated 22/5/2009, [with effect from 3/4/2007] before it was read as, "17. Remittance exceeding US$100,000, by an entity in India by way of reimbursement of pre-incorporation expenses." 5. Substituted vide Not. 1/6/EM/2015 - Dated 26-5-2015 before it was read as. "SCHEDULE III (See rule 5) Transactions which require prior approval of Reserve Bank 1A1. Omitted 1[2. Release of exchange exceeding US$ 10,000 or its equivalent in one financial year for one or more private visits to any country (except Nepal and Bhutan). 3. Gift remittance exceeding US$ 5,000 per financial year per remitter or donor other than re .....

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SCHEDULE III - See Rule 5 - Transactions which require prior approval of Reserve Bank - FOREIGN EXCHANGE MANAGEMENT (CURRENT ACCOUNT TRANSACTIONS) RULES, 2000

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..... ent or deputation of a specified duration (irrespective of length thereof) or for a specific job or assignment; the duration of which does not exceed three years, is a resident but not permanently resident". 8. Release of foreign exchange, exceeding US$ 25,000 to a person, irrespective of period of stay, for business travel, or attending a conference or specialised training or for maintenance expenses of a patient going abroad for medical treatment or check-up abroad, or for accompanying as attendant to a patient going abroad for medical treatment/check-up. 9. Release of exchange for meeting expenses for medical treatment abroad exceeding the estimate from the doctor in India or hospital/doctor abroad. 10. Release of exchange for studi .....

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SCHEDULE III - See Rule 5 - Transactions which require prior approval of Reserve Bank - FOREIGN EXCHANGE MANAGEMENT (CURRENT ACCOUNT TRANSACTIONS) RULES, 2000

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