Foreign Remittence as Donation
This query is : Resolved
CA. Vineet Grover
(Querist)
26 February 2008
Dear Members,
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.
RGds/
CA.Vineet Grover
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.
RGds/
CA.Vineet Grover
S.Srinivasaraghavan
(Expert)
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
26 February 2008
DOANTION UPTO US$5000 PER BENEFICIARY PER YEAR IS ALLOWED ,OVER AND ABOVE THAT REQUIRES RBI APPROVAL
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