Objectives & Agenda :
The Regulations under Foreign Exchange Management Act, 1999 regulate Foreign Currency Accounts that can held by an non-resident in India. In this Webinar we shall understand the Definition of the term 'Foreign Currency' and the various types of Foreign Currency Accounts that can opened by a Non-resident in India and the related conditions.
To gain knowledge on various reports and forms prescribed by RBI for transactions undertaken under the ambit of FEMA. In this Webinar we shall look into various reports and forms which are to be submitted by or through Authorised persons/ dealers in specific cases like Foreign investment, Overseas Direct Investment, External Commercial Borrowings.
Objectives & Agenda :
The Regulations under Foreign Exchange Management Act, 1999 regulate Foreign Currency Accounts that can held by an non-resident in India. In this Webinar we shall understand the Definition of the term 'Foreign Currency' and the various types of Foreign Currency Accounts that can opened by a Non-resident in India and the related conditions.
To gain knowledge on various reports and forms prescribed by RBI for transactions undertaken under the ambit of FEMA. In this Webinar we shall look into various reports and forms which are to be submitted by or through Authorised persons/ dealers in specific cases like Foreign investment, Overseas Direct Investment, External Commercial Borrowings.
Objectives & Agenda :
The Regulations under FEMA regulate a transaction based on whether the transaction is a 'Capital Account Transaction' or a 'Current Account Transaction'. In this Webinar we shall understand the Definition of the terms 'Capital Account Transactions' and 'Current Account Transactions'. We will also look at various transactions covered and the limits applicable to such transactions.
Foreign Currency and Foreign Currency Accounts for Residents under FEMADVSResearchFoundatio
Β
Objectives & Agenda :
The Regulations under Foreign Exchange Management Act, 1999 regulate Foreign Currency that can held by an individual in India. In this Webinar we shall understand the Definition of the term 'Foreign Currency' and the regulation which governs the possession of foreign currency in India and the various types of Foreign Current Accounts that can opened by an Indian resident and the related conditions.
Fema 1999 and Non Resident Indians: Provisions and Implicationsnristreet
Β
www.nristreet.com. This slideshow provides defition of NRI. The main objective of the document is to show the Opportunities for NRI under FEMA and Implications of FEMA for NRI. NRI FAQ
MARG Properties gives complete guidelines to NRI, investment and tax planning. We also advice to NRIβs to invest in real estate, buying apartments, ultra luxury homes , to acquire immovable property in India,<a>Flats Chennai</a> and more.
it will help you to understand this concept very easily.
It contains definition of capital account transaction,explanation of definition, classification of capital account transaction (FDI, Portfolio investment, other investment & reserve account)
Compounding refers to the process of voluntarily admitting the contravention, pleading guilty and seeking redressal. The Reserve Bank is empowered to compound contraventions under Foreign Exchange Management Act, 1999. In this webinar, we shall understand the provisions of FEMA Act and its regulations relating to Compounding of Offences
Objectives & Agenda :
The Regulations under FEMA regulate a transaction based on whether the transaction is a 'Capital Account Transaction' or a 'Current Account Transaction'. In this Webinar we shall understand the Definition of the terms 'Capital Account Transactions' and 'Current Account Transactions'. We will also look at various transactions covered and the limits applicable to such transactions.
Foreign Currency and Foreign Currency Accounts for Residents under FEMADVSResearchFoundatio
Β
Objectives & Agenda :
The Regulations under Foreign Exchange Management Act, 1999 regulate Foreign Currency that can held by an individual in India. In this Webinar we shall understand the Definition of the term 'Foreign Currency' and the regulation which governs the possession of foreign currency in India and the various types of Foreign Current Accounts that can opened by an Indian resident and the related conditions.
Fema 1999 and Non Resident Indians: Provisions and Implicationsnristreet
Β
www.nristreet.com. This slideshow provides defition of NRI. The main objective of the document is to show the Opportunities for NRI under FEMA and Implications of FEMA for NRI. NRI FAQ
MARG Properties gives complete guidelines to NRI, investment and tax planning. We also advice to NRIβs to invest in real estate, buying apartments, ultra luxury homes , to acquire immovable property in India,<a>Flats Chennai</a> and more.
it will help you to understand this concept very easily.
It contains definition of capital account transaction,explanation of definition, classification of capital account transaction (FDI, Portfolio investment, other investment & reserve account)
Compounding refers to the process of voluntarily admitting the contravention, pleading guilty and seeking redressal. The Reserve Bank is empowered to compound contraventions under Foreign Exchange Management Act, 1999. In this webinar, we shall understand the provisions of FEMA Act and its regulations relating to Compounding of Offences
The foreign exchange market or forex market as it is often called is the market in which currencies are traded.
Currency Trading is the worldβs largest market consisting of almost trillion in daily volumes
The market continues to rapidly grow. Not only is the forex market the largest market in the world, but it is also the most liquid, differentiating it from the other markets.
There is no central marketplace for the exchange of currency, but instead the trading is conducted over-the-counter.
This decentralization of the market allows traders to choose from a number of different dealers to make trades with and allows for comparison of prices. Typically, the larger a dealer is the better access they have to pricing at the largest banks in the world, and are able to pass that on to their clients.
The spot currency market is open twenty-four hours a day, five days a week, with currencies being traded around the world in all of the major financial centers.
All trades that take place in the foreign exchange market involve the buying of one currency and the selling of another currency simultaneously. This is because the value of one currency is determined by its comparison to another currency.
The first currency of a currency pair is called the βbase currency,β while the second currency is called the counter currency. The currency pair shows how much of the counter currency is needed to purchase one unit of the base currency.
Currency pairs can be thought of as a single unit that can be bought or sold. When purchasing a currency pair, the base currency is being bought, while the counter currency is being sold.
Forex Capital Markets (FXCM) is an online currency trading firm that offers a free demo account to traders who are new and interested in the foreign exchange market.
It allows you to experience every step of currency trading including choosing currency pairs, deciding how much risk to take, tracking the time and dates of placed trades, deciding how long to stay in the trade, and when to exit the trade. It also allows the placing of stop and limit orders on trades.
Information about trading and specifically about how to use the online trading platform can be found on the FXCM webpage. In addition, FXCM offers FREE interactive online seminars that are extremely useful to both new and experienced currency traders.
Characteristics of foreign exchange
Its huge trading volume representing the largest asset class in the world leading to high liquidity;
Its geographical dispersion;
Its continuous operation: 24 hours a day except weekends, i.e., trading from 20:15 GMT on Sunday until 22:00 GMT Friday;
The variety of factors that affect exchange rates;
The low margins of relative profit compared with other markets of fixed income;
The use of leverage to enhance profit and loss margins and with respect to account size.
Objectives
ΒIntroduction
ΒWhat is Remittance???
ΒWho are Non-residents???
ΒRelevant Notifications and Circulars
ΒWhich assets can be remitted?
ΒHow are assets remitted?
ΒLegal Compliances (In special cases)
This document presents the tips and necessary RBI guidelines for Indians who are looking to buy property in foreign countries such as USA, UK, Dubai, Singapore, Malaysia, Australia, etc.
Foreign exchange is applicable on all type of foreign inflow in the India. Fema is applicable venture funding in india. all investment by NRI in india subject to FEMA regulations.
The presentation discusses various aspects of Corporate Governance and involved issues, keeping in view the recent developments and controversies arose in conglomerates such as Tata and Infosys. It aims at portraying the extant position in filed of Corporate Governance vis-a-vis a pragmatic view of what it would be.
A Presentation given by Mr. Pavan Kumar Vijay, Past President, ICSI, Chairman-Secretarial Standards Board
on Corporate Governance through the eyes of Secretarial Standards.
Mr. Chander Sawhney, Partner & Head β Valuation & Deals, Corporate Professionals shared his thoughts as a guest Speaker on M&A Valuation and challenges at a Business Valuation Masterclass organised by VC Circle on 31st August, 2016. Corporate Professionals acted as the event supporting partner.
β’ In case of a merger valuation, the emphasis is on arriving at the relative values of the shares of the merging companies to facilitate determination of the swap ratio, hence, the purpose is not to arrive at absolute values of the shares of the companies. The key issue to be addressed is that of fairness to all shareholders. There are established legal precedence for merger valuation methodologies:
β’ Valuerβs role is to incorporate case specific factors and use appropriate methodologies so as to determine a fair ratio
β’ Usually, best to give weight ages to valuation by all methods
β’ Market price method and Earnings methods dominate.
β’ It is observed that in case of M&A, the Valuations depart from the concept of βFair Valueβ as elements like Distress Sale, Desperate Buy, Comparable Transaction Multiples come into play reflecting Price than Value.
About Corporate Professionals Valuation Practice
Corporate Professionals Capital Pvt. Ltd. is a SEBI Registered (Cat-1) Merchant Banker and has a successful track record of providing a broad range of M&A and Transaction Advisory Services. Our Dedicated Team has more than 10 years of rich Valuation experience and we have executed more than 500 Corporate Valuations for clients of International Repute across different Context, Industries and Boundaries.
To know more about Our Valuation offerings and how we can help you, please visit us at www.corporatevaluations.in or download our Valuation profile @ http://www.corporatevaluations.in/VALUATION_PROFILE.pdf
Mr. Chander Sawhney, Partner & Head β Valuation & Deals, Corporate Professionals shared his thoughts as a guest Speaker on Relative Valuation - Techniques & Application at a Business Valuation Masterclass organised by VC Circle on 31st August, 2016.
Relative Valuation in which value of an asset or liability is done by comparing it to its Peers is pervasive and preferred for ascertaining Fair Value at a point of time as it reflects the market positioning of the Industry and Peers at that time. While Discounted Cash Flow (DCF) method is applied for arriving at Fundamental Valuation, most M&A transaction are based on Relative Valuation multiples (mostly Earnings based). The valuation ratio typically expresses the valuation as a function of a measure of Key Financial Metrics like PE, EV/EBITDA, EV/Sales or Book Value Multiple.
But before using a multiple, one should know the fundamentals determining the multiple and how changes impact it. Sanity check through use of fundamental valuation method like DCF is strongly recommended.
About Corporate Professionals Valuation Practice
Corporate Professionals Capital Pvt. Ltd. is a SEBI Registered (Cat-1) Merchant Banker and has a successful track record of providing a broad range of M&A and Transaction Advisory Services. Our Dedicated Team has more than 10 years of rich Valuation experience and we have executed more than 500 Corporate Valuations for clients of International Repute across different Context, Industries and Boundaries.
To know more about Our Valuation offerings and how we can help you, please visit us at www.corporatevaluations.in or download our Valuation profile @ http://www.corporatevaluations.in/VALUATION_PROFILE.pdf
Mr. Chander Sawhney, Partner & Head β Valuation & Deals, Corporate Professionals shared his thoughts as a guest Speaker on Valuation Principles & Techniques in Ind AS at a seminar organised by Gurgaon Branch of ICAI on 3rd September, 2016.
IndAS113 prescribes Fair Valuation definition, Techniques, Application and its Hierarchy. About 75% of the Balance Sheet Size is expected to change due to Fair Value Accounting (#IndAS109 #Financial Instruments, #IndAS102 #Share based payments, #IndAS16 Property Plant Equipments (PPE), #IndAS103 #Business combination etc. shall be impacted using #FairValue. Time to get ready, Plan Prepare and Align with the new requirements...
About Corporate Professionals Valuation Practice
Corporate Professionals Capital Pvt. Ltd. is a SEBI Registered (Cat-1) Merchant Banker and has a successful track record of providing a broad range of M&A and Transaction Advisory Services. Our Dedicated Team has more than 10 years of rich Valuation experience and we have executed more than 500 Corporate Valuations for clients of International Repute across different Context, Industries and Boundaries.
To know more about Our Valuation offerings and how we can help you, please visit us at www.corporatevaluations.in or download our Valuation profile @ http://www.corporatevaluations.in/VALUATION_PROFILE.pdf
The 2015 budget had long list of expectations. On one hand; the Government has addressed major issues surrounding the foreign investors which would certainly boost capital market inflows and revive the private equity industry (by deferring GAAR by 2 years and clarifying Permanent Establishment & Indirect Transfer of Assets). On other hand; it has just rationalized the subsidies. Probably as we see growth coming in and more job creation; subsidy burden can be better dealt with by the Government. Though there are no direct benefits for the middle class. However incentives have been introduced to encourage savings. These savings are expected to fuel the infrastructure and other investment plans laid out by the Government. Certainly Foreign investors have a reason to cheer for this Pro Business; Pro Growth Government budget.
Takeover Panorama, a Monthly Newsletter by Corporate Professionals on Takeove...Corporate Professionals
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-The brief synopsis of recent Judicial Pronouncements given by the SEBI, AO, SAT, Informal Guidance and Consent orders passed in the month of December in the matter of SEBI Takeover Regulations.
-The brief synopsis of latest Open Offers given by the National as well as International Acquirers under the SEBI Takeover Regulations
-Unhide the hidden but important provision of the SEBI Takeover Regulations which generally get unnoticed on a plain reading of the regulations.
Acquisition of stake in YourNest Angel Fund by Religare Global Asset Management
Acquisition of stake in Bokaro Jaypee Cement by Dalmia Bharat
Telstra Health Acquires Business of IdeaObject
Unveiling the Secrets How Does Generative AI Work.pdfSam H
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At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
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Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
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Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
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Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
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This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Skye Residences | Extended Stay Residences Near Toronto Airportmarketingjdass
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Business Valuation Principles for EntrepreneursBen Wann
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This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
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Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
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It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
2. ο Key Issues for Residents and NRIs β Overview
ο Liberalized Remittance Scheme for Residents
(LRS)
ο Relaxations for Non Resident Individuals
www.femaindia.in
6. Capital Account Transactions Current Account Transactions
βcapital account transactionβ means a All transactions undertaken by a
transaction which alters the assets or resident that do not alter his / her
liabilities, including contingent assets or liabilities, including
liabilities, outside India of persons contingent liabilities, outside India
resident in India or assets or are current account transactions.
liabilities in India of persons
resident outside India
www.femaindia.in
7. Remittances out of
β’ lottery winnings
β’ Income from racing/riding etc. or any
other hobby
Remittance for purchase of lottery tickets,
banned/proscribed magazines, football
pools, sweepstakes etc.
Payment of commission on exports made
for equity investment in JV/WOS abroad
Continued on next page
www.femaindia.in
8. Dividend to which dividend
balancing is applicable
Commission on export under
rupee state credit route
Call back services
Interest income on funds in Non-
Special Rupee (Account) scheme
www.femaindia.in
9. Private visits abroad:
β’ upto USD 10,000 or its equivalent per financial year
for private visits Business Trips
Business Trips:
β’ upto USD 25,000 per visit
β’ Visits in connection with attending of an international
conference, seminar, specialised training, study tour,
apprentice training, etc., are treated as business visits.
www.femaindia.in
11. Maximum amount of USD 100,000 or its equivalent
ο± Self declaration from applicant
required
For the amount Exceeding above limit
ο± Estimate from hospital/doctor is
required
ο An amount up to USD 25,000 is allowed for maintenance expenses of
a patient going abroad for medical treatment or check-up abroad, or to a
person for accompanying as attendant to a patient going abroad for
medical treatment/check-up.
ο The amount of USD 25,000 allowed to the patient going abroad is in
addition to the limit of USD 100,000 mentioned above.
www.femaindia.in
12. ο Facilities to students:
1. Estimate received from the institution abroad
or
USD 100,000, per academic year,
whichever is higher
2. A student holding NRO account may withdraw
and repatriate up to USD 1 million per financial
year from his NRO account.
3. The student may avail of an amount of USD
10,000 or its equivalent for incidental expenses
www.femaindia.in
13. ο Foreign exchange available to a Person going abroad
for employment: upto USD 100,000 on self declaration
ο Foreign exchange available to a Person going abroad
for emigration: upto the amount prescribed by the
country of emigration or USD 100,000
ο Small value remittances (upto USD 25000 or
equivalent
ο Category of visit requiring prior Government approval:
Dance troupes, artistes, etc.
ο No. of days in advance for buying Forex for travel: 60
days
www.femaindia.in
14. ο Mode of payment for buying forex: Where Rupee
equivalent exceeds Rs.50,000/-, the entire payment has to
be made by way of a crossed cheque/ bankerβs cheque/
pay order/ demand draft/ debit card / credit card / prepaid
card only.
ο What to do with unspent Forex balance: 1. To be
surrendered to AD bank within 180 days 2.May retain
USD 2000 in F/c or T/C 3. May put in RFC(D) account.
ο Gift / Donation to a person resident outside India: upto
limit of USD 200,000 under LRS
ο Use of International Credit Cards (ICCs) / ATMs/ Debit
Cards for forex transactions: Use is permitted
ο Amount of Indian currency that can be taken abroad,
brought back : upto INR7500 per person
www.femaindia.in
15. ο Amount of foreign currency by a person coming to
India:
ο No limit. On declaration to Customs on CDF
ο Total Foreign Exchange upto USD10,000 including
T/Cs, currency notes
ο Foreign Currency notes upto USD 5000 may be
brought without declaration.
ο Sending Gift article out of India- of value upto INR
500,000
ο Taking personal Jewellery out of India- as per the
Baggage Rules
www.femaindia.in
16. ο Extending local hospitality to a non resident:
ο± permitted under Regulation 2(i) of Receipt from
and Payment to, a person resident outside India
Regulations, 2000
Regulation 2 of Notification No. FEMA/16/RB-2000 dated 3.05.2000 permits
β a person resident in India, to make payment in rupees (i) towards meeting expenses
on account of boarding lodging and services related thereto or towards to and from
and within India of a person resident outside India who is on a visit to India.
ο Foreign Currency Account in India by a resident-
EEFC, RFC and RFC(D) A/c s
ο Holding of assets abroad by a resident in India β
1. If acquired, held or owned by such person when he was
resident outside India or inherited from a person who
was resident outside India.
2. Acquired out of remittances made under the
Liberalized Remittance Scheme of USD 200,000
www.femaindia.in
17. Under sub-section (5) of Section 10 of the
FEMA, 1999 β
Documents and
other information
has to be submitted to the satisfaction of AD
bank.
www.femaindia.in
18. Liberalized Remittance Scheme (LRS) of USD
200,000 :
ο The Scheme was announced 04.02.2004 as a step
towards further simplification and liberalization of the
foreign exchange facilities available to residents.
ο Under the Liberalised Remittance Scheme, all resident
individuals, including minors, are allowed to freely
remit up to USD 200,000 per financial year (April β
March) for any permissible current or capital account
transaction or a combination of both.
www.femaindia.in
19. ο Permissible transactions under the Scheme:
ο Investment in immovable property or shares or debt
instruments or any other assets outside India.
ο Open foreign currency accounts with banks outside
India for carrying out transactions permitted under
the Scheme
ο Prohibited items under the Scheme:
ο Purposes prohibited, restricted under Current Account
transactions Rules
ο Trading forex, setting up a company abroad, to
terrorist destinations
www.femaindia.in
20. ο LRS is a facility in addition to existing facilities
ο Gifts/Donations to non residents: within the limit
under LRS
ο Rupee gifts, loans to close relative NRIs / PIOs:
also within LRS limit
ο Repatriation of investments and income thereon.
Not required
ο LRS is on gross basis
ο Use of LRS for ESOPs etc. permissible
ο Use for repayment of overseas loan; Permissible
www.femaindia.in
21. ο Remittances under LRS may be consolidated in
respect of family members
οYes. In case of remitter being a minor, the LRS
declaration form should be countersigned by the
minorβs natural guardian.
ο Purchase of objects of art as Foreign Trade Policy
ο Permissible, as per Foreign Trade policy
ο Opening a Foreign Currency account with a bank
outside India - No restriction
ο Restrictions on frequency of remittances under
LRS - No restriction
www.femaindia.in
22. ο Requirements to be complied by remitter
ο Designate a branch of an AD
ο 2.Furnish an application-cum-declaration in the
specified format regarding the purpose of the
remittance
ο Declare that the funds belong to him and will not be
used for purposes prohibited or regulated under the
Scheme.
ο No guidelines for investing: Except exercising due
diligence.
www.femaindia.in
25. ο Non-Resident Indians
οA Non Resident Indian (NRI) is a person resident
outside India, who is a citizen of India or is a person
of Indian origin.
ο Person of Indian Origin
ο Person of Indian Origin (PIO) for this purpose is
defined as a citizen of any country other than
Bangladesh or Pakistan, if (a) he at any time held
Indian passport; or (b) he or either of his parents
or any of his grandparents was a citizen of India
by virtue of the Constitution of India or the
Citizenship Act, 1955 (57 of 1955); or (c) the
person is a spouse of an Indian citizen or a person
referred to in sub-clause (a) or (b).
www.femaindia.in
26. ο Non Resident Ordinary Rupee Account (NRO
Account)
ο Non Resident (External) Rupee Account (NRE
Account)
ο Foreign Currency Non Resident (Bank) Account (
FCNR(B) Account )
Individuals/ entities of Bangladesh and Pakistan
require prior approval of the Reserve Bank for opening
above accounts.
www.femaindia.in
27. ο Types of Account - Current, Savings, Recurring, Fixed
ο Rate of Interest - As determined by Bank, cannot be higher
than those offered by them on comparable domestic rupee
deposits.
ο Permissible credits - Inward remittances, Current income, sale
proceeds of assets
ο Eligible debits - Local payments, Current income net of taxes,
Remittance of USD 1 million per financial year after paying
applicable taxes.
ο Operations - may be held jointly with Resident/ NRI
ο Loans: Loans in rupees to non-resident account holder and to
third against the security of fixed deposits.
ο Repatriations of balances in NRO account: upto exceeding
USD one million per financial year, subject to payment of
applicable taxes.
www.femaindia.in
28. ο Type of Account - Current, savings, Recurring & Fixed.
Accounts can be opened only by the non-resident himself
ο Rate of Interest: As determined by Bank, cannot be higher
than those offered by them on comparable domestic rupee
deposits
ο Permissible Credits: Inflow, Sale proceeds of FDI, income
on investment under Sch.3 of FEMA 20,
ο Eligible debits: Local payments, FDI, Repatriation, transfer
to other NRE/FCNR Accounts
ο Operations: Resident Power of Attorney holder can only
make local payments or remittances to Account holder
ο Loans: upto 100 lakh on security of deposit to depositors
older or third party.
ο Repatriability: Freely repatriable
ο Tax Benefits: Accrued interest income and balances held in
NRE accounts are exempt from Income tax and Wealth tax,
respectively.
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29. ο Type of Account: Only in Term Deposits of 1 to
5 years
ο Currency of Account: In any freely convertible
currency
ο Rate of Interest: within the ceiling rate of
LIBOR/SWAP rates plus 125 basis points for the
respective currency/corresponding maturities
ο Permissible credits: : Inflow, Sale proceeds of FDI,
income on investment under Sch.3 of FEMA 20
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30. ο Eligible Debits - Local payments, FDI, Repatriation,
transfer to other NRE/FCNR
ο Operations - NRI can open joint account with a
resident close relative on former or survivor basis
ο Loans - upto 100 lakh on security of deposit to
depositors older or third party.
ο Repatriability - Freely repatriable
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31. ο Borrowing money by an individual resident Indian
from his close relatives outside India
ο Maximum USD 2,50,000
ο Subject to the conditions as follows:
ο the minimum maturity period of the loan is
one year;
ο the loan is free of interest; and
ο the amount of loan is received by inward
remittance in free foreign exchange through
normal banking channels or by debit to the
NRE/FCNR(B) account of the NRI
ο RBI vide its A.P.(DIR Series) Circular No. 95 dated 21.03.2012 has
allowed that the repayment of such loans may also be made by credit
to NRE / Foreign Currency Non-Resident (Bank) [FCNR(B)] account
of the lender concerned.
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32. ο Lending money by individual resident to his
close relative NRI/PIO
ο Within overall limit of USD 200000 under LRS per finacial
year
ο by way of crossed cheque /electronic transfer to meet
the borrowerβs personal or business requirements in
India
ο Conditions. The loan should be interest free; have a
maturity of minimum one year and cannot be remitted
outside India.
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33. ο Repayment of loans of an NRI by an Resident
Individual close relative
Where an AD bank in India has granted loan to a non-
resident Indian, such loans may also be repaid by
resident close relative, of the NRI by crediting the
borrower's loan account through the bank account
of such relative.
Close Relative means a Relative as defined in Section 6
of the Companies Act, 1956
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34. On Repatriation basis β Under Schedule 1 and
Schedule 3 of Notification No. FEMA 20
On non-repatriation basis under Schedule 4 of
above Notification
NRI can also invest in non-convertible debentures
both on repatriation basis and on non-repatriation
basis
Note : NRIs are not permitted to invest in small
savings or Public Provident Fund (PPF).
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35. ο Definition of NRI/PIO for investment in property
ο Property prohibited for acquisition
ο Source of funds
ο Acquisition by gift, inheritance
ο Transfer of property by NRI
ο Repatriation of sale proceed
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36. ο NRI - Non-Resident Indian (NRI) is a citizen of India
resident outside India
ο PIO - A βPerson of Indian Origin' means an individual
(not being a citizen of Pakistan or Bangladesh or Sir
Lanka or Afghanistan or China or Iran or Nepal or
Bhutan) who
ο± at any time, held an Indian Passport or
ο± who or either of whose father or mother or whose
grandfather or grandmother was a citizen of India by
virtue of the Constitution of India or the Citizenship
Act, 1955 (57 of 1955).
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38. Funds remitted to India through normal
banking channels or
Funds held in NRE / FCNR (B) / NRO
accounts maintained in India
No payment can be made either by travellerβs
cheque or by foreign currency notes or by other
mode except those specifically mentioned above.
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39. ο NRIs and PIOs can freely acquire immovable
property by way of a gift either from
οa person resident in India; or
ο an NRI; or
ο a PIO
ο The property can only be commercial or residential
in nature.
ο i) An NRI; ii) a PIO; and iii) a foreign national of
non-Indian origin can inherit and hold immovable
property in India from a person who was resident
in India.
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40. NRI may transfer his immovable property to:
A Resident Indian
A NRI and
A PIO
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41. ο Amount to be repatriated shall not exceed:
ο the amount paid for acquisition of the immovable
property in forex through normal banking channels
ο the amount paid out of funds held in FCNR (B)
Account
ο the foreign currency equivalent (as on the date of
payment) of the amount paid where such payment was
made from the funds held in Non-Resident External
account for acquisition of the property; and
In the case of residential property, the repatriation of sale
proceeds is restricted to not more than two such
properties
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43. ο Under clause (b) of section 2 of the RFC Scheme -
'RFC Account' means an account expressed in any
permitted currency, opened and maintained
pursuant to this Scheme, by an eligible person with
any Authorised Dealer
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44. ο Proceeds of assets held outside India at the
time of return can be credited to RFC account.
ο The funds in RFC accounts are free from all
restrictions
ο Maintenance in the form of current or savings
or term deposit accounts
ο permitted to be held jointly with the resident
close relative(s)
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45. ο Holding joint accounts with resident close relatives
ο Gift of shares/securities/convertible debentures etc
to NRI close relative
ο Types of services that can be provided by resident
to NRI
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