Menu
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
Recent Topics :
- GIFT REGARDING
- TDS on salary to non resident managing director
- Ewaybill and Transport documents (Lorry receipt)
- LTCG on sale of Builder Buyer Agreement
- Rule 13(2)(h) and valuation of CCDs
- Leave encashment, New labour code, Management cadr
- GST clarification needed:
- TDS processed with short deduction default
- TDS on rent paid to RNOR Landlord. Can RNOR US tax
- PAN CANCELLATION OF A DISSOLVED PARTNERSHIP FIRM
Related Topics :
CAclubindia
