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.
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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$.
Limit is 5000$
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