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Repatriation of profits from india
A girl running a proprietory business in India got married last year and lives in UK. She wishes to repatriate some of her tax paid profits on a monthly basis for her personal expenses in UK. The business is being managed by her father.
What are the formalities and is there any restriction on fund transfer
Replies (1)
First of all she should have updated her status with all the agencies including Bank/s as Foreign citizen/ NRI as the case may be.
As per RBI regulations she can withdraw/transfer upto 1 million USD per financial year.
More details at: https://www.rbi.org.in/scriptts/FAQView.aspx?Id=23
For general formalities a bank letter is attached
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