How much foreign exchange can other residents send as gift I donation to a person resident outside India?
A.19. ADs have been premitted to make remittances on account of donations by corporates for some specifed purposes subject to a limit of one percent of the foreign exchange earning during the previous three fnancial years or USD 5 million, whichever is less. Other residents like partnership frms, trusts etc., are free to remit up to USD 5000 per annum per donor/remitter each as gift and donation. Remittances exceeding the limit will require prior permission from the Reserve Bank.
Related Questions
- Amount of foreign exchange that residents other than individuals can send as gift / donation to a person resident outside India?
- How much foreign exchange can residents other than individuals send as gift / donation to a person resident outside India?
- How much foreign exchange can other residents send as gift I donation to a person resident outside India?
