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RBI guidelines for outward remittance


Outward remittances are only permitted up to an annual cap of USD 250,000, and remitters must submit their PAN card details for remittance transactions. Remitters are not permitted to send money to some organisations and nations prohibited under RBI guidelines.

What is the RBI limit for outward remittance?

A.6

What are the documents required for outward remittance?

If you are sending money to a non-resident individual or a foreign company, you will also need to submit Form 15CA, and in some cases, Form 15CB, which is a certificate from a chartered accountant verifying the tax paid.

What is the process of outward remittance?

Outward remittance means the remitting bank, entrusted by the remitter, remit funds to his sister-banks or his correspondent banks by the certain instrument and instruct them to pay the certain amount to the nominated payee.

Which rate is applicable for outward remittance?

The GST rate applied for outward remittance, as a rule, is 18% for money coming into India. This rate applies to the commission value.


RBI AND FEMA provide the guidelines for outward remittance depending on the purpose and nature of remittance. Under the various schemes and regulations of the FEMA Act, the limits of remittance for different entities/ organizations are specified. The outward remittance rules post liberalization has been made liberal. Any individual can send or transfer money abroad without taking any prior permission from RBI or FEMA. The purpose of sending money abroad must not fall under any prohibited or ...




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    What is the RBI limit on outward remittances

    The Liberalism Remittance Scheme allows all residents, including minors to freely remit USD 2,50,000 per fiscal year (April to March) for any permi...

    What documents are needed for outward remittances?

    Retail Outward Remittance Applications – A2 cum LRS Declare.PAN card copy.Invoice or bill for credit cardIf the credit card issuing banks have appo...

    Are there restrictions on sending money abroad?

    No law restricts the amount you can send or receive. However, daily transaction limits are often set by financial institutions and money transfer c...

    What is the outward remittance process?

    Outward remittance can be defined as a transfer of foreign currency by an Indian citizen to a beneficiary in another country (except Nepal or Bhuta...


    RBI guidelines for transfer of money

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