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Fema

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(Querist)
04 March 2015 CAN A RESIDENT RECEIVE "GIFT" AS CASH FROM CLOSE RELATIVE WHO IS A NRI UNDER FEMA?IF YES HOW MUCH? AND UNDER WHICH SECTION OF FEMA?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
04 March 2015 NRIs can send gifts (in the form of money/ cash country’s overseas transfers/goods) to their relatives irrespective of any amount as per FEMA Act and rule.

See the link.
http://www.skmc.in/Foreign%20Exchange%20Inward%20Remittance.pdf
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Mili Dey

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Mili Dey (Querist)
10 March 2015 IT DOESNOT SAY ANYTHING ABOUT THE LIMIT OF TAKING GIFT?



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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
10 March 2015 Non-resident Indian staying abroad may remit foreign exchange to their relatives in India.
There is no limit for such remittances.

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