The Foreign Exchange Management Act, 1999

Section 9 Exemption from realisation and repatriation in certain cases

Chapter: II · Regulation and Management of Foreign Exchange
Text as on: As on 01 June 2026

9. Exemption from realisation and repatriation in certain cases.—

The provisions of sections 4 and 8 shall not apply to the following, namely:—

(a) possession of foreign currency or foreign coins by any person up to such limit as the Reserve Bank may specify;

2. Sub-section (3) omitted by s. 139, ibid. (w.e.f. 15-10-2019).

(b) foreign currency account held or operated by such person or class of persons and the limit up to which the Reserve Bank may specify;

(c) foreign exchange acquired or received before the 8th day of July, 1947 or any income arising or accruing thereon which is held outside India by any person in pursuance of a general or special permission granted by the Reserve Bank;

(d) foreign exchange held by a person resident in India up to such limit as the Reserve Bank may specify, if such foreign exchange was acquired by way of gift or inheritance from a person referred to in clause (c), including any income arising therefrom;

(e) foreign exchange acquired from employment, business, trade, vocation, services, honorarium, gifts, inheritance or any other legitimate means up to such limit as the Reserve Bank may specify; and

(f) such other receipts in foreign exchange as the Reserve Bank may specify.

9. Exemption from realisation and repatriation in certain cases.—The provisions of sections 4
and 8 shall not apply to the following, namely:—

(a) possession of foreign currency or foreign coins by any person up to such limit as the Reserve
    Bank may specify;

2. Sub-section (3) omitted by s. 139, ibid. (w.e.f. 15-10-2019).

(b) foreign currency account held or operated by such person or class of persons and the limit up
    to which the Reserve Bank may specify;

(c) foreign exchange acquired or received before the 8th day of July, 1947 or any income arising
    or accruing thereon which is held outside India by any person in pursuance of a general or special
    permission granted by the Reserve Bank;

(d) foreign exchange held by a person resident in India up to such limit as the Reserve Bank may
    specify, if such foreign exchange was acquired by way of gift or inheritance from a person referred to
    in clause (c), including any income arising therefrom;

(e) foreign exchange acquired from employment, business, trade, vocation, services, honorarium,
    gifts, inheritance or any other legitimate means up to such limit as the Reserve Bank may specify; and

(f) such other receipts in foreign exchange as the Reserve Bank may specify.