F.E.M.A.
This query is : Resolved
05 April 2020
Dear All,
Can a person from India purchase lottery ticket (which are held in foreign) in foreign currency?
And if he win the same than can he transfer such winning in his Indian bank account?
Thanks & Regards
Rahul
Can a person from India purchase lottery ticket (which are held in foreign) in foreign currency?
And if he win the same than can he transfer such winning in his Indian bank account?
Thanks & Regards
Rahul
06 April 2020
a person being indian resident can transfer the money in indian bank account out of foriegn receipts but there is prohibition under the provision of FEMA act, 1999 to invest in lottery ticket outside india
06 April 2020
Thank You for your valuable reply.
Let Indian citizen not buy lottery ticket directly but can he buy through his relative residing in foreign? Is it valid under F.E.M.A.?
Let Indian citizen not buy lottery ticket directly but can he buy through his relative residing in foreign? Is it valid under F.E.M.A.?
06 April 2020
onus is on the person who did it by using any channel. as i already clear it is prohibited under the act. however, he/she has to prove how he/she receive that money in india and on what account.
07 April 2020
Thank You for your valuable reply.
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