Foreign Exchange Management (Remittance of Assets) (Amendment) Regulations, 2014

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..... tions, 2014 G.S.R. 803(E).--In exercise of the powers conferred by Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendment in the Foreign Exchange Management (Remittance of Assets) Regulations, 2000 (Notification No. FEMA. 13/ 2000-RB dated May 3, 2000), namely-- 2. Short title and commencement (i) These Regulations m .....

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..... ) in sub-clause (a), the word "and" shall be deleted. (iii) the existing sub-clause (b) shall be deleted. b) in sub- regulation (3),-- (i) after the words and figures, "A Non-Resident Indian (NRI) / Person of Indian Origin (PIO) may remit an amount not exceeding US $ 1, 000, 000 (US Dollar One Million Only) per financial year", the words, " subject to payment of applicable taxes in India, if an .....

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..... the remittance subject to the directions issued by the Reserve Bank in this regard, from time to time and payment of applicable taxes in India, if any." [No. FEMA. 324/2014-RB] C. D. SRINIVASAN, Chief General Manager Foot Note : The Principal Regulations were published in the Official Gazette vide No. G.S.R. 396 (E) dated May 5, 2000 in Part II, Section 3, Sub-section (i) and subsequently amen .....

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