My company wants to make a donation of $2 lacs by way of foreign remittence. Is it eligible to do so. If so under which provision of the FEMA and the required documents needed for the remittemces.
26 February 2008
In my view, gift upto US $ 5000 is allowed under Liberalised Remittance Scheme of RBI. Over and above that would require specific permission of RBI
CAclubindia
