Indians can receive up to ₹10 lakh/yr from relatives abroad as govt amends FCRA rules

Indians can receive up to ₹10 lakh/yr from relatives abroad as govt amends FCRA rules

• By Staff Writer

The government has amended the Foreign Contribution (Regulation) Act (FCRA), allowing citizens to receive up to ₹10 lakh per year from relatives staying abroad without disclosing it to the authorities. The limit was earlier set at ₹1 lakh. If the amount exceeds ₹10 lakh, those receiving funds will now have 90 days (instead of 30 days) to inform the government.