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Rs.60 lacs to be transferred from abroad to india- approval?

Others 614 views 1 replies

Hello everyone,

one of my clients resident in india received Rs.30 lacs from abroad from his relatives. He will receive another 30 lacs in next month. 

My question :

Is their requirement of any approval from the RBI/govt in this case ?

Replies (1)

Hi in what form he is receiving the money?

You need to report to Authorised Dealer and they have to arrange for KYC and FIRC

In case, it is a capital remitance then there are additional forms such as FCGPR to be filed.

Further you need to ensure that the transfer is approved as per FDI

 

regards

 

kedar

 

 


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