Gift by Father to Son in Foreign Currency
Vipul Acharya (Account Officer) (646 Points)
28 April 2024both are Indian Residents, will this cover under LRS
Vipul Acharya (Account Officer) (646 Points)
28 April 2024
Nikhil Kaushik
(Fellow CA)
(85648 Points)
Replied 28 April 2024
it is not a permitted transaction. the recipient of the gift needs to be a non-resident.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)