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Closure of INR deposits & liquid cash to be taken abroad.

Others 179 views 1 replies
If I get PR Status/ Citizenship of a foreign country, can I take out all money of mine held in Banks/Financial institutions as "RESIDENT DEPOSITS", to the foreign country in the currency of my choice? Is it permitted? If so what procedure/ papers I have to file with the respective authorities in India?
Replies (1)

Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD 2,50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both.


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