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What is LRS? RBI Rules, Annual Limit, Taxation and Documentation
Updated on Thursday, October 22nd, 2026 |
Summary LRS lets resident Indians to remit up to US$2.5 lakh each financial year without seeking RBI approval. The scheme covers current and capital account transactions, ranging from education and travel spends to overseas investments and purchase of overseas properties. While PAN and Form A2 are mandatory, banks often require additional documents to verify the…
Read moreTCS on Foreign Remittance Under LRS: Rates, Thresholds, Exemptions & Refunds
Updated on Thursday, October 22nd, 2026 |
Summary: TCS levied on foreign remittances under the LRS framework depends on the purpose of the remittance. This article lists the TCS rates for various transaction types for FY 2026-27 along with the key documents and procedures for claiming TCS refunds. The Reserve Bank of India introduced the Liberalised Remittance Scheme (LRS) on February 4,…
Read moreWhat is the Liberalised Remittance Scheme: Its Limits and Rules
Updated on Thursday, October 22nd, 2026 |
Summary The LRS is a liberalised system for resident individuals to send outward remittances. It allows each resident remitter to send up to US$2.5 lakh per financial year. LRS covers both capital and current account transactions subject to restrictions and prohibitions under FEMA. The Reserve Bank of India (RBI) allows resident individuals to purchase foreign…
Read moreTax Benefits for NRIs and OCIs under DTAA
Updated on Thursday, October 22nd, 2026 |
Summary India has signed DTAAs with over 90 countries to help NRIs and OCIs avoid double taxation. Some DTAAs allow NRIs/OCIs to claim lower tax rates or TDS rates on their Indian income. NRIs/OCIs should check the treaty provisions, compare tax rates and follow the prescribed procedure. Many countries tax their residents on their foreign…
Read moreHow Can NRIs Start Investing in the Indian Stock Market & Mutual Funds?
Updated on Tuesday, September 22nd, 2026 |
An NRI can invest in Indian shares and mutual funds, but the resident account setup cannot continue after the status change. The bank account, KYC, demat category, and route used for repatriation all need to match non-resident status. Getting those pieces right at the start makes every later NRI investment easier to track. Step-by-Step Guide…
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