Gifts by NRI
This query is : Resolved
Udaya Kishore
(Querist)
01 October 2020
Please clarify whether there is any restriction on the amount of gift given by NRI to his relative Indian Resident. I understand that under the LRS a resident can give gifts upto US $250000 in one F.Y. I want to know whether there is any such upper limit for NRis also, in India or USA.
CA R SEETHARAMAN
(Expert)
01 October 2020
No limit in India. Limit applicable only to green card holder.
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