296. Parent sending money to student abroad
Q: Hi I have parents in INDIA. I am in need of Money for higher education of my child can my parents send me money to
help this situation and how much money they can send me and by what means. I reside in Canada.
I would prefer them to send through bank transfer if possible.
Thanks for your help
Shreyak
A. Your parents can send you up to US$100,000 through legal banking channels without any problem. Here is a link to a
page where you will find information about how much foreign exchange is available to tourists, businessmen and students
in India. Click HERE to visit this page.
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional
accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been
stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail.
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