Posted on: 28-09-08 22:43:09
Is there any limit on bringing cash by dependent parents on immigration ???
can they bring upto 100k ? Will the SBI in india issue a draft for 100k? The SBI manager told my parents in india that they need a certificate from chartered accountant indicating that tax has been paid on the amount being transferred. can anybody advise ?
thanks in advance
Quote:
Originally posted by lucky284
Is there any limit on bringing cash by dependent parents on immigration ???
can they bring upto 100k ? Will the SBI in india issue a draft for 100k? The SBI manager told my parents in india that they need a certificate from chartered accountant indicating that tax has been paid on the amount being transferred. can anybody advise ?
thanks in advance
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Government of India had rules run by an act called FERA.
They changed and amended the FERA to the current FEMA.
It has become a lot easier for Indian emigrants to avail the Foreign Exchange and take it out of India to anywhere in any part of the world. If you are moving to Canada, then get Canadian dollar Draft or IMO. Makes life easy.
Here are some questions and answers that will help you.
http://www.nrirealtynews.com/nri-banking/fema-faqs.php
Good Luck.
Freddie.
Thanks Freddie for your reply. Thanks also for your detailed reply on SNR. I really appreciate. I must take you for dinner for all your help.Thanks
Regards
