Miscellaneous Remittances from India – Facilities for Residents
This Master Circular outlines the facilities and guidelines for residents in India to make miscellaneous remittances abroad.
Release of Foreign Exchange: Authorised Dealers can release foreign exchange for various purposes, including travel, medical treatment, cultural tours, private visits, and business visits.
Simplified Application-cum-Declaration: A simplified application-cum-declaration form is available for travel purposes.
Medical Treatment: Remittances for medical treatment abroad are permitted.
Cultural Tours: Remittances for cultural tours are permitted.
Private Visits: Remittances for private visits abroad are permitted.
Business Visits: Remittances for business visits abroad are permitted.
Surrender of Foreign Exchange: Residents are required to surrender unspent foreign exchange within 180 days of return to India.
Unspent Foreign Exchange: Unspent foreign exchange can be retained in a Resident Foreign Currency (Domestic) Account.
Remittances for Tour Arrangements: Remittances for tour arrangements, etc. are permitted.
Payment in Rupees: Payment in rupees is permitted for certain transactions.
Issue of Guarantee: Guarantees can be issued for the import of services.
Liberalised Remittance Scheme (LRS): Resident individuals can remit up to USD 125,000 per financial year under the LRS. PAN number is mandatory for such remittances.
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Download: Master Circular on Miscellaneous Remittances from India – Facilities for Residents