Master Circular on Miscellaneous Remittances from India – Facilities for Residents
This circular outlines the facilities for residents in India to make miscellaneous remittances abroad.
Release of Foreign Exchange by Authorised Dealers: Authorised dealers can release foreign exchange for various purposes, including travel, medical treatment, cultural tours, private visits, and business visits.
Limit for Travel Purposes: Up to USD 25,000 can be released for travel purposes.
Other Facilities:
– Residents can surrender unspent foreign exchange within 180 days of return to India.
– Resident Foreign Currency (Domestic) Accounts can be maintained.
– Remittances can be made for tour arrangements, etc.
– Payments in rupees can be made for certain services.
– Advance remittances can be made for import of services, and guarantees can be issued for the same.
Liberalised Remittance Scheme: Resident individuals can remit up to USD 200,000 per financial year for permitted current or capital account transactions. PAN number is mandatory for this scheme.
Chat with the Master Circular:
Download: Master Circular on Miscellaneous Remittances from India – Facilities for Residents