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Section 8 - FEMA 1999: Realisation & Repatriation of Foreign Exchange

Section 8 (Realisation and repatriation of foreign exchange) under Chapter II (Regulation and Management of Foreign Exchange) of the Foreign Exchange Management Act 1999 (FEMA)

❝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.❞




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Notes:

The Foreign Exchange Management Act, 1999 was amended by:
- the Finance Act, 2015 (Act No. 20 of 2015);
- the Finance Act, 2016 (Act No. 28 of 2016);
- the Finance Act, 2017 (Act No. 07 of 2017).

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