Gifts by NRI
This query is : Resolved
01 October 2020
Please clarify whether there is any restriction on the amount of gift given by NRI to his relative Indian Resident. I understand that under the LRS a resident can give gifts upto US $250000 in one F.Y. I want to know whether there is any such upper limit for NRis also, in India or USA.
01 October 2020
No limit in India. Limit applicable only to green card holder.
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