Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Can ADs (banks) remit proceeds of such accounts on closure?

accounts Ads Banks closure proceeds remit
0
Posted

Can ADs (banks) remit proceeds of such accounts on closure?

0 CommentsAdd a Comment

1 Answer

0

Yes. But ADs (banks) should ensure that the funds to be repatriated outside India were either received from abroad or are of repatriable in nature or are permissible in terms of RBI notification No.FEMA.13/2000 dated 3 rd May 2000 .

0 CommentsAdd a Comment

Related Questions

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.