What is the legal USD amount we can carry to India

[prasad1234]

I am doing my masters in USA. I am planning to visit my parents and would like to carry some USD (Dollars) to back home in India. Can any one let me know what is the legal USD amount we carry to India.

Thanks,
Pasad

[leifbooger]

dont carry money dude. transfer it from here.. you'll get a better transfer rate.

[shahkr]

.

[hellosan]

Other way around

What is the maximum amount of money we can carry from india to us.

I called several banks and they said you cannot transfer funds from india to us.

Please advice

[leifbooger]

What is the purpose of transferring funds from India to the US? For educational purposes you can get upto $50,000 per year. If you brought a house in India with the money you earned in the US, you can transfer upto $100,000 per year from the sale of that property.

[hellosan]

thanks leifbo****

Yes we sold our property in india.My father is coming to US and we wanted him to bring the funds.We found out if coming in visitor visa maximum fund one can carry is only $5000.

Can you recommend any website where we could get more info on how to transfer the funds to USA.We ideally want to do via bank transfer, we have both nre and nro accounts.Bu when i called citibank in india they said we cannot do that.

I even called western money and money gram and was told they dont transfer money from india.Please advice

Thanks

[leifbooger]

Your dad is coming on a visitor visa.. so after the visa expires he will need to get back to India. He can get the other half the next time he comes back.

[immihelp]

This is very confusing.

People are discussing entirely 2 different things?

The original question was about transferring money from US to India. And some people answering question about tranferring money from India to US.

If you want to transfer money from US to India, you can transfer as much as you want. If you are carrying more than $10,000 in cash/travelers checks etc (or more than $2500 in cash only), you have to declare it to the customs.

If are transferring money from India to US, leifbo****'s answer is right. $50,000 for educational purposes and $100,000 for sale of home that bought with the funds from US. This is a recently updated rule.

Now, coming back to your question:
How was that property acquired in India in the first place? As you are student, I assume that the property was not acquired through the money you earned in US.

[leifbooger]

And for transferring from US to India .. the best way is to use ACH transfers from ICICI bank or State Bank of India. You get the best transfer rate .. Rs 0.35 less than the current conversion rate. It takes 4-5 days to transfer.