Transfer of funds to overseas contries

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N B S MURTY. (Querist)
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03 February 2015 Respected all,
Hear my dought is, my broyher opened a business firm in USA. Before that he did business management course at USA. Now my dought is, How can we send his own earnings in India,before he wag gon to USA for studies. Please suggest.

With Regards,
BALU.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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03 February 2015 Any resident individual, if he so desires, may remit the entire limit of USD 125,000 in one financial year under LRS as gift to a person residing outside India. Remittances exceeding the limit of USD 125,000 will require prior permission from the Reserve Bank.

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