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Max permissible dollar?

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(Querist)
09 November 2013 1. How many dollers are permissible for a professional resident?

2. Is any declaration required for indian citizen about no. of doller in hand on 31.03.2013 ?
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CA Sanjeev Kumar

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CA Sanjeev Kumar (Expert)
09 November 2013 Per FEMA is 2000 USD, if more than such then intimation to RBI is required.
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Sandeep Rajpurohit

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Sandeep Rajpurohit (Querist)
09 November 2013 Thankx Sanjeev,

is any declaration required under Income Tax Act or in ITR-4?
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CA Sanjeev Kumar

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CA Sanjeev Kumar (Expert)
09 November 2013 No, but you need to show this as cash in balance sheet at the time of filing the ITR.
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