Liberalised Remittance Scheme
Liberalised Remittance Scheme (LRS Remittance ).
The Liberalised Remittance Scheme helps citizens and investors send and invest money overseas
Facility Extended
- For capital & current account transactions for resident individuals. (Including Minors)
- Not available to corporate, partnership firm, HUF, Trust, etc.
- PAN CARD is a must
- One year banking relationship (for capital a/c transactions).
- Limit enhanced to $250,000 (w.e.f. June 2015) in FY. (April to March)
PERMITTED PURPOSES as per Schedule III of extended Guidelines of FEMA 1999.
- Private visit to any Country (Except Nepal and Bhutan).
- Gift or Donation.
- Going abroad for Employment.
- Emigration.
- Maintenance of Close Relatives Abroad.
- Expenses in connection with medical treatment abroad.
- Studies Abroad etc.
