Supreme Court: Foreign Companies’ Head Office Expenses in India are Capped under Section 44C || SC Directs Trial Courts to Systematically Catalogue Witnesses and Evidence in Criminal Judgments || SC Calls For Sensitising Future Generations on Equality in Marriage to Combat Dowry Practices || SC: Separate Suits Against Confirmed Auction Sales are Barred; Remedy Available under Sec 47 || NCLT Mumbai: Oppression Claims Against Majority Shareholders Do not Justify Winding up a Company || J&K&L HC Rules it Illegal and Inequitable to Deny Regularisation to a Daily Wager After 34 Years || J&K&L High Court: Revisional Powers Must Be Used Within Reasonable Time; Merits Don’t Justify Delay || Supreme Court: Compassionate Appointees Cannot Later Claim Entitlement to a Higher Post || NCLAT New Delhi: Insolvency Pleas Cannot Be Admitted When Information Utility Records Show a Dispute || NCLAT: Issuing Cheques For Another Entity’s Liabilities Does not Constitute Operational Debt

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

Share :