Category: FEMA
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FEMA Implications on NRI Gift Transactions: A Scenario-wise Analysis
Lot of times NRIs wish to make a gift to their relatives or friends or a reverse way, a resident wants to send money overseas to NRI relatives. It is here that very few people know that such transactions are regulated under FEMA. Under FEMA, RBI has delegated compliance responsibility to the Authorised Dealer Banks…