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Source: Live Mint Assume Mr A is an NRI based in the US and his father wants to send him ₹10 lakh from India. A resident Indian can only send money to an NRI’s NRO account. It cannot go in the NRE account because even though NRE is a rupee-denominated account, funds deposited in it…
Source: Live Mint Starting 15 October, salaried individuals can adjust such TCS payments against the tax deducted at source (TDS) on their salaries. Previously, they could only claim a refund of the TCS when filing their tax returns. This affected salaried individuals in particular as professionals could always factor in the TCS while computing advance…
Source: Live Mint Here’s everything you need to know about it. Investments LRS allows Indians to invest in listed foreign securities – both equity and debt. You can invest in mutual funds, exchange traded funds (ETFs), venture funds, and real estate (with some caveats). You can also invest in listed debt securities such as bonds,…
Source: Business Standard 2 min read Last Updated : Sep 20 2024 | 9:49 PM IST Outward remittances under the Reserve Bank of India’s Liberalised Remittance Scheme (LRS) increased by 16.7 per cent year-on-year (Y-o-Y) to $2.75 billion in July 2024 compared to $2.36 billion last year, driven by international travel. The LRS…
