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The paper investigates the determinants of remittances received by Indian households after considering the number of migrants as endogenous in the remittance decision. For this purpose, the paper uses the two rounds of India Human Development Survey conducted in the year 2004-2005 and 2011-2012. To account for the endogeneity of the number of migrants, the paper estimates the Two-Stage Residual Inclusion model. Here, initially the number of migrants are modelled using the negative binomial regression and then the residuals from this regression along with the original explanatory variables are included in the second-stage regression for the remittances. The results show that the number of migrants is endogenous and positively affects the total remittances received by the urban households. However, for rural households, there is no relation between the number of migrants and remittances. The findings also indicate the presence of altruism behind remittances for both rural and urban households. Along with this, some evidence of inheritance and insurance motives is also observed for rural and urban households, respectively.