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Usd 500

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(Querist)
23 January 2014 Sir,
if i have us doller 500 and i want to convert same in to INR then whom i should contact or what is the legal requirement in this regard ?
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P V Ram

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P V Ram (Expert)
23 January 2014 You can go to any Authorised Dealer designated bank or a money changer who will give you INR against USD

The may ask regarding source which you may have to tell. Anyway USD 500 conversion is not a big issue.

Thanks!
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CA Jaydeep Vaghela

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CA Jaydeep Vaghela (Querist)
24 January 2014 Is there any limit up to which i can convert USD without any material procedure ?
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P V Ram

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P V Ram (Expert)
24 January 2014 upto USD 5000 should not be big problem. In case it is more, then we need to give currency declaration form and also need to explain the source and also establish it if need be.

Thanks!
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