Fifteenth Schedule – Thresholds for economic transactions
Sets the values above which 'ineligible persons' can't do certain transactions until their declared resources support them.
Who it applies to
'Ineligible persons' (s.114C) entering into large purchases, investments or cash withdrawals
Rates and limits
| Item | Rate / rule |
|---|---|
| Booking, purchase or registration of a motor vehicle – s.114C(1)(a) | Exceeding Rs 7 million |
| Registration or transfer of immovable property (FMV) – s.114C(1)(b) | Exceeding Rs 100 million |
| New investment in securities, debt, mutual funds or money market – s.114C(1)(c) | Exceeding Rs 50 million a year |
| Annual cash withdrawal from all bank accounts – s.114C(1)(d) | Exceeding Rs 100 million |
How it works in practice
Before a large transaction, check that your declared income and assets (wealth statement) support it. If they don't, revise your wealth statement or arrange sources so you remain eligible.