Dear Sir, Namaste! I am an NRI, doing job & residing in USA. I have ancestral agricultural lands in India which is being taken care of by my brother & father. Now I want to purchase a home in USA & my father & brother wish to gift some money from india to me. Kindly let me to know the procedure of receiving gifted money from India to USA. Whether any permissions from RBI or from any of the USA authorities we have to take?
1 Answers
As per latest amendment to RBI Liberalised Remittance Scheme, With effect from August 14, 2013, the scheme is not available for remittances for acquisition of immovable property directly or indirectly outside India.
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