What is Liberalised Remittance Scheme and what’s it used for?

5 years, 6 months ago

What is Liberalised Remittance Scheme and what’s it used for?

The Liberalised Remittance Scheme of the Reserve Bank of India allows resident individuals to remit a certain amount of money during a financial year to another country for investment and expenditure. According to the prevailing regulations, resident individuals may remit up to $250,000 per financial year. Individuals can also open, maintain and hold foreign currency accounts with banks outside India for carrying out transactions permitted under the scheme. However, LRS restricts buying and selling of foreign exchange abroad, or purchase of lottery tickets or sweep stakes, proscribed magazines and so on, or any items that are restricted under Schedule II of Foreign Exchange Management Rules, 2000.

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RBI announces steps to encourage cross-border transactions in Indian rupee

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Bitcoin ETF approval: Indian investors too can participate - here’s how

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Bitcoin ETF approval: Indian investors too can participate - here’s how

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How regulations squeezed investments into Gift City

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Tax collection at source: Who issues a TCS certificate and when?

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How HNIs can invest abroad without the LRS limit or TCS

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How HNIs can invest abroad without the LRS limit or TCS

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Explained | The changes to the Liberalised Remittance Scheme

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Explained | The changes to the Liberalised Remittance Scheme

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Overseas Spending Using Credit Cards Won't Attract Tax Collected At Source: Govt

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Overseas Spending Using Credit Cards Won't Attract Tax Collected At Source: Govt

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Money Transfer: Know How To Send Money To Your Children Living Abroad

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No Tax On Foreign Credit Card Spend Up To Rs 7 lakh

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No Tax On Foreign Credit Card Spend Up To Rs 7 lakh

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Your credit card usage abroad will now be taxed

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What is liberalised remittance scheme and its benefits? All you need to know

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What is liberalised remittance scheme and its benefits? All you need to know

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Nepal turns to citizens abroad to help build forex reserves

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Nepal turns to citizens abroad to help build forex reserves

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Top banker tells rich Indians to load up on foreign stocks

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Top banker tells rich Indians to load up on foreign stocks

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Remittances: A note of caution

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Remittances: A note of caution

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RBI eases norms to buy immovable property abroad

10 years, 8 months ago

RBI eases norms to buy immovable property abroad

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Good news! RBI eases norms to buy immovable property abroad

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Good news! RBI eases norms to buy immovable property abroad

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