Reserve Bank of India

10.02.2016

Banking

Application to regularize assets held abroad to be sent to RBI

MANU/RPRL/0058/2016

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

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