Liberalised remittance scheme


Ram (B)     31 July 2019

Ram
B 
 1 likes  42 points

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Hello,

I have a query about remitting funds from an Indian bank account to USA.

Under the Liberalised Remittance Scheme, a Resident Indian is allowed to transfer the equivalent of $250,000  per year.

However, a foreign national employed in India is allowed to transfer the amount earned in India.

As an OCI living and working in India for several years, which of the two limits would apply?

My banker, CA have differing opinions.

Please share your views.  

Thanks.

 

avater

Dhirajlal Rambhia (KVO Merau Kutchh)     01 August 2019

Dhirajlal Rambhia
KVO Merau Kutchh 
 8817 likes  90630 points

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SECOND OPTION.


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