Date: 29-06-2004 Notification No: RBI Notification No FEMA 119/2004 RB* Issuing Authority: RBI Type: FEMA Notification File No: Subject: Foreign Exchange Management (Remittance of Assets) (Amendment) Regulations, 2004 – Remittances by NRI’s/PIOs from NRO Account G.S.R. 493(E).- In exercise of the powers conferred by Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in partial modification of its Notification No. FEMA-13/2000-RB dated May 3, 2000, the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Remittance of Assets) Regulations, 2000, namely:-1. Short title and commencement.-(i) These Regulations may be called the "Foreign Exchange Management (Remittance of Assets) (Amendment) Regulations, 2004."(ii) They shall come into force from the date of their publication in the Official Gazette.2. Amendment of the Regulations-(i) In the Foreign Exchange Management (Remittance of Assets) Regulations, 2000, in Regulation 4, for Sub-regulation (3), the following sub-regulation shall be substituted, namely : -"(3) A Non-Resident Indian (NRI)/Person of Indian Origin (PIO) may remit an amount, not exceeding US $ 1,000,000 (US Dollar One million only) per calendar year,(i) Out of the balances held in NRO accounts/sale proceeds of assets/the assets in India acquired by him by way of inheritance/legacy on production of :(a) documentary evidence in support of acquisition, inheritance or legacy of assets by the remitter, and(b) tax clearance/No objection certificate from the Income Tax Authority for the remittance.(ii) Under a deed of settlement made by either of his parents or a close relative (as defined in Section 6 of the Companies Act, 1956) and the settlement taking effect on the death of the settler, on production of:(a) the original deed of settlement; and(b) a tax clearance/No objection certificate from the Income Tax Authority for the remittance :Provided that in respect of remittance of sale proceeds of immovable property (acquired other than by way of inheritance/legacy/settlement), the property/sale proceeds were held/retained as eligible investments cumulatively for a minimum period of 10 years : Provided further that where the remittance under Clause (i) and (ii) is made in more than one instalment, the remittance of all instalments shall be made through the same Authorised Dealer" . Sd/-(Shyamala Gopinath)Executive Director
Get Sample Now Which service(s) are you interested in? Export Data Import Data Both Buyers Suppliers Both OR Exim Help + Exim News Date: 27-05-2026 Rupee undervalued on REER basis, set for rebound: Ashima Goyal Date: 27-05-2026 US death tax trap: Uncle Sam's wealth puzzle leaves rich Indians worried for their kids Date: 27-05-2026 Samsung workers approve pay deal, shares surge Date: 27-05-2026 Piyush Goyal maps out India's bilateral roadmap with Canadian corporate chiefs Date: 26-05-2026 India's prized Alphonso mango crop ruined by weather Date: 26-05-2026 Quad agenda set in motion: India, Japan align on Indo-Pacific strategy ahead of key meet Date: 26-05-2026 Oil slump, central bank support manifest in rupee’s three-day winning streak Date: 25-05-2026 Japan's Nikkei jumps past 65,000 mark for first time on Iran talks optimism Date: 27-05-2026 West Asia conflict may dent India Inc profitability by 200 bps: Crisil Date: 22-05-2026 Govt relaxes insolvency rules for MSMEs What is New? Date: 19-05-2026 CORRIGENDUM Corrigendum to Notification No. 14/2026-Customs dated 30.04.2026 Date: 12-05-2026 Notification No. 15/2026-Customs Seeks to further amend notification No. 45/2025-Customs dated the 24th October, 2025, so as to notify BCD related changes. Date: 12-05-2026 Notification No. 17/2026-Customs Seeks to amend notification No. 57/2000-Customs dated 8th May 2000, which provides concessional rate for gold, silver and platinum imported under specified schemes. Date: 12-05-2026 Notification No. 16/2026-Customs Seeks to amend notification No. 11/2018-Customs and notification No. 11/2021-Customs so as to revise SWS and AIDC applicable on certain items. Date: 06-05-2026 NOTIFICATION No. 43/2026-Customs (N.T.) Amendment in the Notification No. 63/1994-Customs (N.T) dated 21.11.1994 in respect of Land Customs Station, Samrang Date: 30-04-2026 Notification No. 21/2026-Central Excise Seeks to amend Notification No. 11/2026-Central Excise dated 26.03.2026 to revise the RIC rates on exports of High speed diesel oil outside India. Date: 30-04-2026 Notification No. 01/2026-Central Tax (Rate) Seeks to amend Notification No 9/2025 - Central tax (Rate) to align them with changes made vide Finance Act, 2026 Date: 30-04-2026 Notification No. 01/2026-Integrated Tax (Rate) Seeks to amend Notification No 9/2025 - Integrated tax (Rate) to align them with changes made vide Finance Act, 2026? Date: 30-04-2026 Notification No. 01/2026-Union Territory Tax (Rate) Seeks to amend Notification No 9/2025 - Union Territory ?tax (Rate) to align them with changes made vide Finance Act, 2026? Date: 30-04-2026 Notification No. 19/2026-Central Excise Seeks to amend Notification No. 06/2026-Central Excise dated 26.03.2026 to revise the SAED rates on exports of High speed diesel oil outside India.
Indian Customs CBEC - Indian Customs Offices Indian Customs Duty Customs Exchange Rate HS Code List - Countrywise Safegaurd Duty Anti Dumping Duty Duty Drawback Rates
DGFT Dgft offices in India Exim Policy IEC Number Dgft Notification Dgft Public Notices Dgft Circulars Trade Notice Depb Rates
Central Excise Central Excise Offices Central Excise Duty Central Excise Notification Central Excise Notification tarrif Central Excise Notification Non-Tarrif Central Excise Circulars Central Excise Instruction Central Excise Manual