Demystifying the Liberalised Remittance Scheme: Everything You Need to Know
Razorpay
MARCH 11, 2024
The Liberalised Remittance Scheme (LRS), introduced by the Reserve Bank of India (RBI) in 2004 under the Foreign Exchange Management Act (FEMA) 1999, empowers Indian residents to send up to $ 2,50,000 abroad annually (April to March). Profits from overseas investments through LRS are taxable based on the investment’s holding period.
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