Investment
LRS
Also known as: Liberalized Remittance Scheme, Foreign Investment Limit
Liberalized Remittance Scheme - RBI scheme allowing residents to remit up to $250,000 per year abroad.
Detailed Explanation
LRS (Liberalized Remittance Scheme) allows Indian residents to freely transfer up to USD 250,000 per financial year for permitted current and capital account transactions. This includes foreign investments, education, medical treatment, travel, and family maintenance. Popular uses include investing in foreign stocks, real estate, or education abroad. TCS (Tax Collected at Source) may apply on forex transactions above certain limits.