1.Is there any restriction in receipt of USD/IR by Indian resident from NRI blood relative?
2.Which laws will get attracted?
3.How much amount can be received at one time?
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Receipts from NRI
Replies (2)
Quick Summary
1.) When an NRI gives gifts in the form of cash, cheque, items, or property to a Resident Indian who is a relative, both giver and receiver are exempt from tax in India.
2.) FEMA laws are attracted in this.
3.) You can receive $250000 per financial year
2.) FEMA laws are attracted in this.
3.) You can receive $250000 per financial year
Yes agree with above comment
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