Money Without Limit Can Be Brought In India On Declaration!

March 3, 2007 by taxworry · 1 Comment

Dear sir,as i am planning to return to India for vacation after working here for one year the first time i want you to tell me how much us dollars i can carry with me in person and what is the procedure to declare at Mumbai airport and proceed to my town. subuooty@….co.in

As per RBI guideline, a person can bring in any amount of money in India , but after a limit you will have to declare at the custom office on landing in India. Below is the excerpt from RBI FAQ on foreign exchange

” 22. While coming into India how much foreign exchange can be brought in?
A person coming into India from abroad can bring with him foreign exchange without any limit. However, if the aggregate value of the foreign exchange in the form of currency notes, bank notes or travellers cheques brought in exceeds USD 10,000/- or its equivalent and/or the value of foreign currency exceeds USD 5,000/- or its equivalent, it should be declared to the Customs Authorities at the Airport in the Currency Declaration Form (CDF), on arrival in India”

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Comments

One Response to “Money Without Limit Can Be Brought In India On Declaration!”

Venky says:

April 2, 2008 at 7:32 pm

I wonder…if someone is bringing in cash of say, 15000 US $, or equivalent, isn’t one asking for trouble from the customs officials?

They might get blood thirsty and try ways to skim off some of the amount, and blame it on some limit with duty free/ valued items that one is bringing in…?