Foreign Remittence as Donation

This query is : Resolved

CA. Vineet Grover (Querist)
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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

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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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

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
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26 February 2008 DOANTION UPTO US$5000 PER BENEFICIARY PER YEAR IS ALLOWED ,OVER AND ABOVE THAT REQUIRES RBI APPROVAL

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