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What is the limit and tax implication of Sending Money to India from the USA?

In theory, there is absolutely no limit to how much money you can send to India, provided you earned your money legally and paid your taxes but the USA is special. In practice, depending upon which channel you are using for sending money to India, you might have some limit. Similarly, you will also hit the daily limit of transactions you can do with your local bank e.g. paying bills up to 50,000 dollars daily for remittance purposes.
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