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Liberalised Remittance Scheme (LRS)

Wednesday, August 31, 2016 by Indian Real Estate News



1 LRS is a window provided by the government of India to remit money across the border, without seeking specific approval.

2 One can freely remit an amount within the LRS limit every financial year for a permissible set of current or capital account transactions.The current LRS limit is $250,000.

3 The scheme is available to all resident individuals including minors.The scheme is not available to corporates, partnership firms, HUF and trusts.

4 Remittances are permitted for overseas education, travel, medical treatment and purchase of shares and property, apart from maintenance of relatives living abroad, gifting and donations.

5 Remittances are NOT permitted for trading on the forex markets, margin to overseas exchanges and counterparties and the purchase of FCCB issued by Indian companies abroad.





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