Section 8 - Realisation and repatriation of foreign exchange : Foreign Exchange Management Act 1999

What is Realisation and repatriation of foreign exchange? Section 8 of FEMA Act 1999

 

 

 

Section 8 of Foreign Exchange Management Act 1999 : "Realisation and repatriation of foreign exchange"

8. Save as otherwise provided in this Act, where any amount of foreign exchange is due or has accrued to any person resident in India, such person shall take all reasonable steps to realise and repatriate to India such foreign exchange within such period and in such manner as may be specified by the Reserve Bank.