THE REMITTANCES OF FOREIGN EXCHANGE AND INVESTMENT IN FOREIGN EXCHANGE BONDS (IMMUNITIES AND EXEMPTIONS) ACT, 1991
An Act to provide for certain immunities to persons receiving remittances in foregin 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 relating 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 immunities 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:—
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