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Foreign Exchange Management (Acquisition and Transfer of Immovable Property outside India) Regulations, 2015

FEMA - 43 - Dated:- 4-2-2016 - RBI/2015-16/308 A.P. (DIR Series) Circular No. 43/2015-16 [(1)/7(R)] February 04, 2016 To All Category - I Authorised Dealer and Authorised Banks Madam/ Sir Attention of Authorised Dealers (ADs) is invited to A.D.(M.A. .....

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necessary to revise the regulations issued under the Foreign Exchange Management (Acquisition and Transfer of Immovable Property outside India) Regulations, 2000, as amended from time to time. Accordingly, in consultation with the Government of Indi .....

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e following cases: a) Property held outside India by a foreign citizen resident in India; b) Property acquired by a person on or before 8th July, 1947 and held with the permission of Reserve Bank; c) Property acquired by way of gift or inheritance fr .....

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Accounts by a person resident in India) Regulations, 2015; e) Property acquired jointly with a relative who is a person resident outside India provided there is no outflow of funds from India; f) Property acquired by way of inheritance or gift from a .....

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s and residential purposes provided total remittances do not exceed the following limits prescribed for initial and recurring expenses, respectively: a) 15 per cent of the average annual sales/ income or turnover of the Indian entity during the last .....

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n to an individual means husband, wife, brother or sister or any lineal ascendant or descendant of that individual. 5. The new regulations have been notified vide Notification No. FEMA 7(R)/2015-RB dated January 21, 2016 c.f. G.S.R. No. 95(E) dated J .....

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