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I have been working in the US on H-1B for the last couple of years. I am going back to India for good shortly. Typically I have used State Bank in the past to send money (small amounts) for family maintenance/gifts etc.
My question is what is the maximum amount of my savings that I can send in a single transaction? Since I do not have the time to send multiple installments of smaller amounts. Is there a limit set by the US Govt/IRS/ or Indian Govt? I have visited many websites but none mention any rules in this regard except that I have to declare the purpose if the amount is above $10K. So if anybody has any information in this regard please share. Thanks.
My question is what is the maximum amount of my savings that I can send in a single transaction? Since I do not have the time to send multiple installments of smaller amounts. Is there a limit set by the US Govt/IRS/ or Indian Govt? I have visited many websites but none mention any rules in this regard except that I have to declare the purpose if the amount is above $10K. So if anybody has any information in this regard please share. Thanks.
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