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October 2011

A.P. (DIR Series) Circular No. 14, dated 15-9-2011 — Foreign Investments in India — Transfer of security by way of gift — Liberalisation.

By Gaurang Gandhi | Chartered Accountant
Reading Time 1 mins
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Presently, a person resident in India can transfer, by way of gift, to a person resident outside India any security including shares/convertible debentures up to the value of US $ 25,000 during a calendar year after obtaining prior approval of RBI.

This Circular has increased the said limit from US $ 25,000 to US $ 50,000. As a result, a person resident in India can now transfer, by way of gift, to a person resident outside India any security including shares/convertible debentures up to the value of US $ 50,000 per financial year after obtaining prior approval of RBI.

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