Max permissible dollar?
This query is : Resolved
Sandeep Rajpurohit
(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 ?
2. Is any declaration required for indian citizen about no. of doller in hand on 31.03.2013 ?
CA Sanjeev Kumar
(Expert)
09 November 2013
Per FEMA is 2000 USD, if more than such then intimation to RBI is required.
Sandeep Rajpurohit
(Querist)
09 November 2013
Thankx Sanjeev,
is any declaration required under Income Tax Act or in ITR-4?
is any declaration required under Income Tax Act or in ITR-4?
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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