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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, NRIs 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.
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