Application to regularize assets held abroad to be sent to RBI- (Reserve Bank of India) (10 Feb 2016)

MANU/RPRL/0058/2016

Banking

The Reserve Bank of India notified consideration of applications at its Central Office in Mumbai seeking regularisation of assets held abroad by a person resident in India and declared under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 and FEMA. A person resident in India has 180 days from the date of making declaration to make an application for permission to continue holding the same.

Relevant : Foreign Exchange Management (Regularization of assets held abroad by a person resident in India) Regulations, 2015 MANU/RFEM/0027/2015

Tags : RBI FOREIGN ASSET BLACK MONEY REGULARISATION