Max. limit of money remittance for an nri ?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 July 2016
Sir,
If an individual is an NRI, for last 5 years, then :
Que. 1 : How much amount can he send (remit) to India, in a single financial year? How much is the maximum limit for it ?
Que. 2 :Is there any particular way, in which only, he has to send money to India ?
Que. 3 : Can he pay CASH or compulsorily cheque or debiting his bank account in the bank abroad in his current country ? (Which mode of payment to be chosen to pay to the foreign bank for remitting money to India?)
Que 4 : What care should be taken so that any rule/regulation /provision of income tax and other laws, may not be broken ? And so that he may not have any problem due to his such transactions in future ?
Please, guide.
If an individual is an NRI, for last 5 years, then :
Que. 1 : How much amount can he send (remit) to India, in a single financial year? How much is the maximum limit for it ?
Que. 2 :Is there any particular way, in which only, he has to send money to India ?
Que. 3 : Can he pay CASH or compulsorily cheque or debiting his bank account in the bank abroad in his current country ? (Which mode of payment to be chosen to pay to the foreign bank for remitting money to India?)
Que 4 : What care should be taken so that any rule/regulation /provision of income tax and other laws, may not be broken ? And so that he may not have any problem due to his such transactions in future ?
Please, guide.
09 July 2016
1 No limit.
2 Only through banking channel.
3 Through banking channel.
4 See the link for more details.
https://www.caclubindia.com/forum/something-about-inward-remittance-110729.asp
2 Only through banking channel.
3 Through banking channel.
4 See the link for more details.
https://www.caclubindia.com/forum/something-about-inward-remittance-110729.asp
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