Foreign Gift

[sunil jain]

Dear Sir

Under FEMA is there any prohibition in receiving foreign gift from relative and is there any limit.

Thanks

Sunil jain

[DR.MARIAPPAN GOVINDARAJAN]

Foreign gift may be received and there is a limit for this.

AI Summary

Foreign gift permitted from relatives but subject to statutory limits and regulatory compliance under foreign exchange law. Acceptance of foreign gifts from relatives is permitted under the foreign exchange regime but is subject to a statutory limit and applicable compliance and reporting obligations; the regulatory approach is permissive with quantitative and procedural constraints rather than an outright prohibition.