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How much foreign exchange can other residents send as gifit I donation to a person resident outside India?

April 26, 2017donation foreign exchange gifit India outside person resident residents send

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How much foreign exchange can other residents send as gifit I donation to a person resident outside India?

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A.19. ADs have been premitted to make remittances on account of donations by corporates for some specified purposes subject to a limit of one percent of the foreign exchange earning during the previous three financial years or USD 5 million, whichever is less. Other residents like partnership firms , trusts etc., are free to remit up to USD 5000 per annum per donor/remitter each as gifit and donation. Remittances exceeding the limit will require prior permission from the Reserve Bank.