Maximum Limit of Remittance: USA to India
Posted on: 13/Feb/2014 10:20:57 AM
With the advent of globalization, more and more Indians moving abroad and getting settled for employment and Studies. Once they settled, NRI�s started sending money from USA to India.
There are some transactions which are permitted under Foreign Exchange management rules.
- Acquire Immovable Property
- Acquire Shares
- Acquire Debentures
- Open Bank Accounts
There are transactions which are not allowed:
- Remittance for any purpose specifically prohibited under schedule (like purchase of a lottery tickets/ sweep stakes, proscribed magazines etc)
- Remittances of margin to overseas stock exchanges
- Remittance of purchase of FCCBs issued by Indian companies in the overseas secondary market;
- Remittance for trading in foreign exchange abroad;
- Remittance for trading in foreign exchange abroad
- Remittances directly or indirectly to Bhutan, Nepal, Mauritius and Pakisthan.
