Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What if I need foreign exchange for donations or gifts to overseas beneficiaries?

April 26, 2017beneficiaries DONATIONS foreign exchange gifts overseas

0

Posted

What if I need foreign exchange for donations or gifts to overseas beneficiaries?

1 Answer

0

Posted

A Resident Indian can remit upto USD 5,000 per year as gifts or donations to overseas beneficiaries. The only document required to be produced is a letter detailing and certifying the details of remittance and the beneficiary to whom it is being made.