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Inward Remittances (Part 2)
What is the fundamental directional character of the Money Transfer Service Scheme (MTSS)?
MTSS permits only inward personal remittances into India; outward remittance is not allowed under the scheme.
What is the maximum amount allowed per single remittance under MTSS?
USD 2,500 per individual remittance is the cap.
Who can be the remitter and beneficiary under MTSS?
Both the remitter and the beneficiary must be individuals; companies or entities cannot be parties to an MTSS transaction.
What is the maximum cash payout allowed to a beneficiary under MTSS?
Up to Rs. 50,000 can be paid in cash.
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