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Latest Questions

Q: How can NRIs do the sale/transfer of shares held by them with repatriation benefits?

A: In the case of shares /debentures /bonds acquired by NRIs through stock exchanges under the Portfolio Investment Scheme, general exemption has been granted for transfer through stock exchanges...

Q: Are NRIs permitted to transfer/sell their shares held on non-repatriation basis to resident freely?

A: Yes. General exemption has been granted by Reserve Bank for transfer/sale of shares/debentures/bonds by NRIs/OCBs through stock exchanges if such transfers are made in favor of an Indian citizen or...

Q: Can NRIs make foreign currency investments?

A: No. All investments have to be in Indian Rupees, for which an NRE/NRO account would be a convenient option.

Q: How to convert foreign currency to Indian rupees on arrival in India?

A: Foreign currency declaration on arrival at Indian airports is required only in one of the two conditions mentioned below: 1.If the incoming passenger has in his/her possession foreign currency...

Q: Can gold jewelry be taken on the transfer of residence?

A: No, gold jewelry cannot be taken under transfer of residency, transfer of residence allows duty-free import of used household goods. The only duty-free allowance that can be availed when it comes...

Q: Is there any restriction on taking foreign currency out from India?

A: There is no restriction on the amount of money that can be taken out from India by travelers. The only requirement is that a declaration is required if the amount carried exceeds US$ 5000 in cash...

Q: How to start money exchange business in India?

A: FFMC License is required and is issued by the Reserve Bank of India. To apply, you need to submit the appropriate form The applicant for FFMC license has to be a company registered under the...

Q: What are the rules and regulations in India to exchange foreign currency?

A: Any person can bring into India from a place outside India foreign exchange without any limit. However, declaration of foreign exchange/currency is required to be made by filling out a currency...

Q: How to convert foreign currency to Indian rupees on arrival in India?

A: Foreign currency declaration on arrival at Indian airports is required only in one of the two conditions mentioned below: 1.If the incoming passenger has in his/her possession foreign currency...

Q: Limit of amount that can be taken by Canadian citizen to India?

A: There is no restriction on the amount of foreign currency that can be brought into India from abroad. However, in the following conditions, the currency must be declared on arrival by filling in a...