RBI: No Foreign Exchange Act Action against Declarant for Disclosure Under Black Money Window - 01.10.2015

Reserve Bank of India (RBI) has said no action under FEMA will be taken against declarations under one-time black money compliance window. RBI has already notified Foreign Exchange Management Regulations, 2015, in this regard. Further no permission under FEMA will be required for those keen to dispose of assets declared and bring back proceeds through proper banking channel by March 31.

Tags : Reserve Bank of India FEMA black money compliance window

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