Foreign exchange remittance
This query is : Resolved
19 October 2011
One of our assessee wants to give his son, who is in singapore and wants to start a business there, some amount as gift or as loan. What is the maximum limit he can give as gift or as loan to his son without restriction and also with restrictions. Please help me in this regard
Vishal D Shah
(Expert)
20 October 2011
Gift or loan within usd 200000 per financial year through liberalized remittance scheme.
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