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

Others 531 views 1 replies
User Avatar

practice
2112 Points Joined February 2009

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 ?

0 Reply Share Follow
On 11 February 2013 at 23:15 Report
Replies (1)
User Avatar

pro badge

Proprietor
954 Points Joined December 2010

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

 

 

Reply
On 12 February 2013 at 16:07


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading