New Delhi: Indians can now receive up to Rs 10 lakh in a year from relatives staying abroad without disclosing it to the authorities.
The earlier limit was Rs 1 lakh.
The relaxation is the result of Ministry of Home Affairs (MHA) amending certain rules in the Foreign Contribution (Regulation) Act (FCRA).
MHA said in a notification that if the amount exceeds Rs 10 lakh, individuals will have 90 days to inform the government, instead of the previous 30 days.
The new rules, Foreign Contribution (Regulation) Amendment Rules, 2022, were notified by the home ministry through a gazette notification on Friday night.
“In the Foreign Contribution (Regulation) Rules, 2011, in rule 6, — for the words ‘one lakh rupees’, the words ‘ten lakh rupees’ shall be substituted; and for the words ‘thirty days’, the words ‘three months’ shall be substituted,” the gazette notification said.
Rule 6 deals with intimation of receiving foreign funds from relatives.
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