Indian Bare Acts

THE REMITTANCES OF FOREIGN EXCHANGE AND INVESTMENT IN FOREIGN EXCHANGE BONDS (IMMUNITIES AND EXEMPTIONS) ACT, 1991

Title : THE REMITTANCES OF FOREIGN EXCHANGE AND INVESTMENT IN FOREIGN EXCHANGE BONDS (IMMUNITIES AND EXEMPTIONS) ACT, 1991

Year : 1991

[ACT.NO. 41 OF 1991.]
[18th September, 1991.]

An Act to provide for certain immunizes to persons receiving remittances in forge in exchange and to persons owning the Foreign
Exchange Bonds and for certain exemptions from direct taxes in relation to such remittances and bonds and for matters connected therewith or incidental thereto.

WHEREAS the position relation to balance of payments has become difficult and it is necessary to attract large inflow of foreign exchange;

AND WHEREAS With a view to attracting such inflow of foreign exchange, it is expedient to provide for certain immunizes and exemptions to render it possible for certain persons to receive the said remittances in foreign exchange and to own the said Bonds;

BE it enacted by Parliament in the Forty-second Year of the
Republic of India as follows:-


CHAPTER I
PRELIMINARY



(1) This Act may be called the Remittances of Foreign Exchange and Investment in Foreign Exchange Bonds ( Immunizes and Exemptions) Act, 1991.

(2) It extends to the whole of India.

Last updated on August, 2016

Find a Lawyer