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Latest Questions Q: If an Indian Resident die and his executor in India transfer his money (3 crs) to an NRI who is grandson of deceased, whether RBI permission require for transfer of money from deceased or executor account to NRI (USA) in his NRO account in India. Deceased has made will and WILL is probated in Court.
A: Yes, an NRI/PIO can receive a gift from a resident relative. However, the amount cannot exceed the limit prescribed under LRS, i.e., $250,000 per financial year
The account can be credited with...
- 44 Days ago
- Others
- Business and Finance
- See Answer
Q: Can NRI transfer money out of India?
A: Yes, an NRI can transfer money out of India but the amount transferred should not be more than the amount remitted through a foreign exchange to India through bank channels.
- 69 Days ago
- Money Transfer
- Business and Finance
- See Answer
Q: What is the maximum amount that can be received in cash by the beneficiary?
A: The maximum amount that can be received in cash is Rs. 50,000. In case the amount of remittance exceeds Rs. 50,000, the full amount will be paid by way of Pay Order or by directly crediting the...
- 90 Days ago
- Money Transfer
- Business and Finance
- See Answer
Q: What is the maximum amount that can be remitted?
A: Any single remittance should not exceed USD 2500 or its equivalent. Also, the number of remittances to a single individual should not be more than 30 in a year
- 90 Days ago
- Money Transfer
- Business and Finance
- See Answer
Q: Can a person who returns to India after a short assignment abroad open an RFC account?
A: Yes, the person who returned to India after a short assignment abroad can open an RFC account.
- 114 Days ago
- Money Transfer
- Business and Finance
- See Answer
Q: 1)Can an NRI sell his inherited property in India with the help of Power of Attorney executed in favor of his son who is also an NRI? ( since the father is an old aged person unable to move, the son may come to India)
2) How to wire the sale proceeds to NRI's account abroad?
Please guide.
A: * A Power of attorney is a special choice for most sellers who have difficulties in attending to the execution and registration of sale deed.
* The reason for executing the POA should be clarified...
- 119 Days ago
- Money Transfer
- Business and Finance
- See Answer
Q: How can I transfer money from India to NRE account?
A: There are no restrictions on transferring money from the NRE account back to your foreign account. It allows you to transfer funds from your existing NRE savings account to open NRO/FCNR accounts....
- 194 Days ago
- Money Transfer
- Business and Finance
- See Answer
Q: Can NRI transfer money out of India?
A: Interest earned and balances held in NRE and FCNR accounts are not taxed and can be freely repatriated abroad. The RBI allows NRIs to transfer money from NRO to NRE account, subject to an overall...
- 194 Days ago
- Money Transfer
- Business and Finance
- See Answer
Q: Can NRI transfer money to resident Indian?
A: Yes, NRIs can send money to India and they don't have to pay taxes when they transfer money to India.
- 231 Days ago
- Money Transfer
- Business and Finance
- See Answer
Q: Can I transfer money from NRO to NRE account?
A: RBI has now permitted transfer from NRO account to NRE account subject to the submission of required documents and subject to the total amount of funds transferred to NRO account during the...
- 251 Days ago
- Money Transfer
- Business and Finance
- See Answer
Q: If an Indian Resident die and his executor in India transfer his money (3 crs) to an NRI who is grandson of deceased, whether RBI permission require for transfer of money from deceased or executor account to NRI (USA) in his NRO account in India. Deceased has made will and WILL is probated in Court.
A: Yes, an NRI/PIO can receive a gift from a resident relative. However, the amount cannot exceed the limit prescribed under LRS, i.e., $250,000 per financial year The account can be credited with...
- 44 Days ago
- Others - Business and Finance
- See Answer
Q: Can NRI transfer money out of India?
A: Yes, an NRI can transfer money out of India but the amount transferred should not be more than the amount remitted through a foreign exchange to India through bank channels.
- 69 Days ago
- Money Transfer - Business and Finance
- See Answer
Q: What is the maximum amount that can be received in cash by the beneficiary?
A: The maximum amount that can be received in cash is Rs. 50,000. In case the amount of remittance exceeds Rs. 50,000, the full amount will be paid by way of Pay Order or by directly crediting the...
- 90 Days ago
- Money Transfer - Business and Finance
- See Answer
Q: What is the maximum amount that can be remitted?
A: Any single remittance should not exceed USD 2500 or its equivalent. Also, the number of remittances to a single individual should not be more than 30 in a year
- 90 Days ago
- Money Transfer - Business and Finance
- See Answer
Q: Can a person who returns to India after a short assignment abroad open an RFC account?
A: Yes, the person who returned to India after a short assignment abroad can open an RFC account.
- 114 Days ago
- Money Transfer - Business and Finance
- See Answer
Q: 1)Can an NRI sell his inherited property in India with the help of Power of Attorney executed in favor of his son who is also an NRI? ( since the father is an old aged person unable to move, the son may come to India) 2) How to wire the sale proceeds to NRI's account abroad? Please guide.
A: * A Power of attorney is a special choice for most sellers who have difficulties in attending to the execution and registration of sale deed. * The reason for executing the POA should be clarified...
- 119 Days ago
- Money Transfer - Business and Finance
- See Answer
Q: How can I transfer money from India to NRE account?
A: There are no restrictions on transferring money from the NRE account back to your foreign account. It allows you to transfer funds from your existing NRE savings account to open NRO/FCNR accounts....
- 194 Days ago
- Money Transfer - Business and Finance
- See Answer
Q: Can NRI transfer money out of India?
A: Interest earned and balances held in NRE and FCNR accounts are not taxed and can be freely repatriated abroad. The RBI allows NRIs to transfer money from NRO to NRE account, subject to an overall...
- 194 Days ago
- Money Transfer - Business and Finance
- See Answer
Q: Can NRI transfer money to resident Indian?
A: Yes, NRIs can send money to India and they don't have to pay taxes when they transfer money to India.
- 231 Days ago
- Money Transfer - Business and Finance
- See Answer
Q: Can I transfer money from NRO to NRE account?
A: RBI has now permitted transfer from NRO account to NRE account subject to the submission of required documents and subject to the total amount of funds transferred to NRO account during the...
- 251 Days ago
- Money Transfer - Business and Finance
- See Answer
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