Remittance of Assets Master Direction
This Master Direction outlines the regulations for remittance of assets by various entities.
Remittances Permitted:
Individuals (not being NRIs/PIOs) can remit up to USD 250,000 per financial year for permissible current or capital account transactions.
NRIs/PIOs can remit sale proceeds of assets acquired out of funds from India.
Companies/entities can remit assets with prior approval from the Reserve Bank of India (RBI).
Branch/offices can remit winding-up proceeds with prior RBI approval.
Remittances Requiring RBI Approval:
Remittances exceeding the permissible limits or for non-permissible transactions require prior RBI approval.
Income-tax Clearance:
Remittances are subject to income-tax clearance, as applicable.
Consolidated Notifications/Circulars:
The Master Direction consolidates various notifications and circulars, listed in the Appendix.
Chat with the Master Direction:
Download: Master Direction – Remittance of Assets (Updated as on April 28, 2016)