receiving money from outside india
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 March 2011
Whether a resident indian can receive $300000 from his non resident friend by way of gift through his saving bank account?I want to know,if there is any restriction or limitation in the light of FEMA provisions.Pls reply.
04 April 2011
REMITTANCE FACILITIES FOR NON RESIDENTS INDIAN / INDIAN ORIGINS ,
PRE- PERMISSION OF RBI IS MANDATORY IN YOUR CASE.
FOR MORE INFO:-
RBI MASTER CIRCULAR NO. 4/2007-08 DTD.21.02.2008.
PRE- PERMISSION OF RBI IS MANDATORY IN YOUR CASE.
FOR MORE INFO:-
RBI MASTER CIRCULAR NO. 4/2007-08 DTD.21.02.2008.
Message likes :
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04 April 2011
ANOTHER LINK IS :-
http://rbidocs.rbi.org.in/rdocs/notification/pdfs/78362.pdf
http://rbidocs.rbi.org.in/rdocs/notification/pdfs/78362.pdf
Message likes :
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16 May 2011
Yes the Indian can receive the above mentioned amount in Dollars, and there are no restrictions by RBI for the same.
But there shall be incomer tax implications under sec. 56.
Anuj
0-9810106211
But there shall be incomer tax implications under sec. 56.
Anuj
0-9810106211
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