Menu
Closure of INR deposits & liquid cash to be taken abroad.
If I get PR Status/ Citizenship of a foreign country, can I take out all money of mine held in Banks/Financial institutions as "RESIDENT DEPOSITS", to the foreign country in the currency of my choice? Is it permitted? If so what procedure/ papers I have to file with the respective authorities in India?
Replies (1)
Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD 2,50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both.
Recent Topic
- Post office KVP income.
- Free GST invoice tool I built for my practice R
- Clarification on Gratuity Exemption under Section
- GOODS AND SERVICE TAX - GSTR 1
- Correct ITR form
- Clarification required on Section 393 & Report
- Professional advance taxes
- Surrender pan process
- Tds on deceased's pan
- Exempt income declaration schedule EI in ITR2 (AY2
Related Topics
CAclubindia
