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Remittance of money from India to abroad, FEMA |
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Remittance of money from India to abroad |
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i propose to remit (foreign currency) money from india to a country abroad to a close relative for maintanance expenses. what is the relevant govt notification for it. what is the limit and procedure Posts / Replies Showing Replies 1 to 3 of 3 Records Page: 1
You may refer to the provisions of FOREIGN EXCHANGE MANAGEMENT (CURRENT ACCOUNT TRANSACTIONS) RULES, 2000 in FEMA section - Regulation no. 5 read with schedule III - which states that for maintenance of relatives, no permission for RBI is required in case the remittance is not exceeding $5000/-
Also if you want to remit more than $5000/- then also the same is permitted. I will let you the exact regulation if you need the same.
i think the limit is USD 100000/= in case of gift to a relative i need to verify the same and the relevant provison of FEMA Page: 1 Old Query - New Comments are closed. |
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