If residents of India remit a amount as gift to person in USA thru his capital account in a partnership firm in USA by way of drawings.
Will such a remitance be allowed under FEMA Act. ???If yes, also plz specify the ceiling for the same.
Menu
FEMA Act
Replies (3)
yes its allowed ...... the ceiling is 25000
Yes,
I think Mr. Khetan is right. According to Current Account regulation of FEMA that an individual can gift upto 5000 US$.
Limit is 5000$
Recent Topic
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
Related Topics
CAclubindia
