Page 2 - Lrs

Indians remitted $2.67 billion in August under LRS scheme, shows data

According to RBI data, in August, Indians remitted $467.52 million for overseas education, $330.70 million for maintenance of close relatives, and $221.31 million in gifts.

HNIs more cautious on foreign investment after new rules kick in

According to the new rules of the liberalised remittance system (LRS), an Indian resident can now invest $250,000 a year in foreign stocks, debt etc

Indians remitted $6 bn in Q1FY23 under LRS scheme, shows RBI data

Spend on international travel accounts for 48% of total remittance

Overseas remittances almost double year on year to $2 billion in April

Travel, relative care top the chart, with the former coming back to pre-Covid levels

Why LRS route for investing in capital markets abroad is mainly for HNIs

Those with small amounts should skip it owing to high costs and elaborate tax-related compliances

Remitting money? Use lock-in facility to get best forex rate, say experts

Take into account transaction fee, conversion fee, and exchange-rate mark-up when comparing players' costs

Tax collection at source on LRS to hit education abroad

The TCS is imposed on all LRS transactions above Rs 7 lakh including travel overseas

I-T dept scans 30,000 individuals for remitting money abroad via RBI scheme

Most of the assessees in question are either traders or professionals; there are also those who sent money abroad for donation purposes

New norms for outward remittance of money narrow definition of 'relative'

Altered rules aim at checking black money transactions and misuse of guidelines for commercial purposes