The limit to receive money from abroad, specifically concerning inward remittances to India under the MTSS (Money Transfer Service Scheme), is capped at USD 2500 per transaction.
Here's a breakdown of the limits and conditions based on the provided information:
- Maximum Amount per Transaction: USD 2500.
- Maximum Number of Transactions per Year: A beneficiary can receive a maximum of 30 MTSS transfers annually.
- Account Requirement: An NRE (Non-Resident External) account is required to receive inward remittances in India.
| Feature | Limit/Requirement |
|---|---|
| Maximum USD per transfer | USD 2500 |
| Maximum Transfers/Year | 30 |
| Required Account | NRE Account |
It is important to note that these limits and requirements pertain specifically to remittances received through the MTSS scheme in India, as stated in the reference.
