Fema

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Krishan Kumar Garg (Querist)
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25 March 2018 Request confirmation/ views that:
I as Indian resident can borrow on repatriation basis up to USD 2,50,000 or equivalent as per FEMA terms such as interest free loan, having minimum maturity period of one year, transfer of funds through their NRE account from my daughter and son in law who are NRIs
and
I can use such funds for earning interest, of course, pay applicable income tax in India.
Thanks in advance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 March 2018 You can get the funds as gift being relatives and return it as gift FEMA allowed it.

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Krishan Kumar Garg

Krishan Kumar Garg (Querist)
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25 March 2018 Thanks for very prompt reply. Will appreciate if you could please tell me whether you envisage any issue with the proposal I referred.
CA KK GARG

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 March 2018 In case of loan FEMA rules to be complied.