1.Is there any restriction in receipt of USD/IR by Indian resident from NRI blood relative?
2.Which laws will get attracted?
3.How much amount can be received at one time?
1.) When an NRI gives gifts in the form of cash, cheque, items, or property to a Resident Indian who is a relative, both giver and receiver are exempt from tax in India.
2.) FEMA laws are attracted in this.
3.) You can receive $250000 per financial year
CAclubindia
