: As a US Permanent Resident, how much money I can send from the US to India in my NRE account per year? I am a Permanent Resident of US. (My wife also has a GC). We both are working (I am in IT and my wife works in a Store).

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I assume that you are a citizen of India, and are what Indian law calls a
NRI (NonResident Indian) and thus entitled to operate an NRE (NonResident External)
account in India. You can deposit US dollars into the NRE account, but
the money is converted to Indian Rupees (INR) and held as INR. You can
withdraw the money and bring it back to the US as US dollars, but the INR
will be converted to US$ at the exchange rate applicable on the date
of the transaction. With the recent
decline of the Indian Rupee against the US dollar, many NRE accounts lost
a lot of their value.

You can deposit any amount of money in your NRE account. Some banks may
limit the amount you can send in one business day, but if 250 times that amount
seriously limits the amount of money you want to send each year, you should
not be asking here; there are enough expensive lawyers, bankers and tax
advisors who will gladly guide you to a satisfactory solution.
There is no limitation on the total amount that you can have in your
NRE account.

The earnings (interest paid) on the sum in your NRE
account is not taxable income to you in India but you may still need
to file an income tax return in India to get a refund of the tax withheld
by the bank (TDS) and sent to the tax authorities. The bank should
not withhold tax on the earnings in an NRE account but it did happen
to me (in the past). While the interest paid on your NRE account is not
taxable in India, it is taxable income to you on your US tax returns
(both Federal and State) and you must declare it on your tax return(s)
even though the bank will not issue a 1099-INT form to you. Be aware
also about the reporting requirements for foreign accounts (FBAR, TD F90-22.1
etc). Lots of people ignored this requirement in the past, but are more
diligent these days after the IRS got a truckload of information
about accounts in foreign banks and went after people charging them
big penalties for not filing these forms for ever so many years. There
was a huge ruckus in the Indian communities in the US about how the
IRS was unfairly targeting simple folks instead of auditing the rich!
But, if the total value of the accounts
did not exceed K at any time of the year, these forms do not need
to be filed. It seems, though, that you will not fall under this
exemption since you are planning on having considerably larger sums
in your NRE account. So be sure and follow the rules.