Always be prepared in advance, and never exchange at the airports. In comparison, dealers typically charge a margin of around 3. Account holders can keep their money in different currencies, including the US dollar euro, pounds and Japanese yen.
Foreign tourists: There is no limit on how much forex a foreign tourist can bring to India. Never miss a story! Stay connected and informed with Mint. Download our App Now!! It'll just take a moment. Income Tax Refund. Tax Exemption Limit. Income Tax Slabs. Insure Life Insurance. Health Insurance. Motor Insurance. Other Risk Covers. Personal Finance News. Mutual Funds.
Rate Story. Font Size Abc Small. Abc Medium. Abc Large. Getty Images The payment for foreign exchange can be made by cash up to a limit of Rs 50, Travelling abroad necessitates the need to obtain currency of that country. One can obtain foreign currency only from authorised dealers which include banks.
The RBI has laid down separate limits for obtaining foreign exchange for different purposes such as travel, studies abroad, medical travel amongst others.
There is no monetary ceiling fixed by the RBI for remittances, if any, under this facility. The LRS limit shall not apply to the use of ICC for making payment by a person towards meeting expenses while such person is on a visit outside India.
Taking personal jewellery out of India is as per the Baggage Rules, governed and administered by Customs Department, Government of India. While no approval of the Reserve Bank is required in this case, approvals, if any, required from Customs Authorities may be obtained. A person resident in India is free to make any payment in Indian Rupees towards meeting expenses, on account of boarding, lodging and services related thereto or travel to and from and within India, of a person resident outside India, who is on a visit to India.
Can residents purchase air tickets in India for their travel not touching India? Residents may book their tickets in India for their visit to any third country. In terms of sub-section 4, of Section 6 of the Foreign Exchange Management Act, , a person resident in India is free to hold, own, transfer or invest in foreign currency, foreign security or any immovable property situated outside India if such currency, security or property was acquired, held or owned by such person when he was resident outside India or inherited from a person who was resident outside India.
Skip to main content. Search the Website Search. Home FAQ. Frequently Asked Questions Miscellaneous forex facilities Updated as on October 21, The legal framework for administration of foreign exchange transactions in India is provided by the Foreign Exchange Management Act, Who is an Authorized Dealer AD?
How much jewellery can be carried while going abroad? Can a resident extend local hospitality to a non-resident?
0コメント