How NRIs can take benefit from the Liberalised Remittance Scheme (LRS)

[@SampadaPinto]

Very informative and well explained, thanks 👍🏻

[@AKTAssociatesOfficial]

@SampadaPinto Glad you liked it

[@parvathiperumal-x3o]

Very informative. Can we also get some clarifications on the following,
1. In case if a NRI transfers money from his/her NRE/NRO accounts to his foreign account, how will RBI know for what purpose the fund has been utilized abroad.
2. Will there be a tax deduction even if a NRI's parents send money from India as gift or education expense of their grandchildren?

[@caaruntiwari3170]

sure will make video on this

[@vijaya12345]

Bank says there is a 20% tax that will be deducted at source when sending money - greater than 7 lacs.. is this still true

[@AKTAssociatesOfficial]

Yes, it's true

[@caaruntiwari3170]

@@AKTAssociatesOfficial It depends on nature of payment , whether for tour, medical treatment or education, so do check that

[@bikramsinghbrar7403]

VERY INFORMATIVE THANKS

[@caaruntiwari3170]

Thanks a Lot

[@visalakshikrishnan3127]

I am a US green card holder, I want to transfer money from Indian bank account to my USA bank account. Is it posdible? How?

[@AKTAssociatesOfficial]

Yes you can transfer fund from India to USA. After paying TDS,
For more details Please contact our NRI Desk at [e-mail] or 8080088288.

[@AKTAssociatesOfficial]

Yes you can transfer fund from Indian bank to foreign bank after making TDS. 15CACB is require for fund transfer.
For more detail Please contact our NRI Desk at [e-mail] or 8080088288

[@Arsrit]

I am an NRI in Canada and if my Mom who is a resident Indian sends 50 lacs in same financial year as a Gift on basis of Gift deed and also submitd 15CA 15CB form to bank does she still have to pay 20%TCS

[@AKTAssociatesOfficial]

No need to pay 20% TCS.
For more details Please contact our NRI Desk at [e-mail] or 8080088288.

[@ramchandragandhi7730]

thanks

[@AKTAssociatesOfficial]

@ramchandragandhi7730 Welcome

[@hameedc7604]

9:34 My son in need of nri status for education purpose but his sponsor cannot afford it.but I have tax paid money at bank. can I send money to his savings account then he can transfer this money to his NRI account so that I can pay his fees through him

[@AKTAssociatesOfficial]

Hello sir,
We request you to take consultation with our CA. You will get proper guidance on fund transfer.
For more detail Please contact our NRI Desk at [e-mail] or 8080088288

[@rajanshirodkar4739]

I want to send Rs 10 lacs to my son abroad. How much tax I have to pay? Will it come under IT GAMBIT? IS THIS LIMIT APPLICABLE PER PERSON?

[@AKTAssociatesOfficial]

There is no tax up to 7 Lakh; after that, you have to pay 20% TCS for overseas fund transfers.
For more clarification Please contact our NRI Desk at [e-mail] or 8080088288

[@vijaya12345]

Can resident individual wire to US bank ( as a gift) to NRI as part of the LRS scheme

[@AKTAssociatesOfficial]

Yes, a resident individual can wire money to an NRI as a gift under the LRS scheme.
For more Information 📞 8080088288 or mail✉ us on [e-mail]

[@prasaddhuri8598]

I am from india and want to invest 2.25 Cr in Dubai property. Do I have to take permission from RBI if transaction will be in payment plans eg. 20% +30% +50%..
Please Guide

[@AKTAssociatesOfficial]

For investments abroad, including Dubai, it's advisable to check RBI guidelines. In certain cases, approval may be required. Consult with CA Arun Tiwari he will guide you in this matter. Call 8080088288 or mail us at [e-mail]

[@sanjeevgupta178]

Who is included in family

[@mansotra11]

Does 15 CA is required to transfer the money abroad less than 7 lakh in a financial year?

[@AKTAssociatesOfficial]

Generally, Form 15CA is required, but it depends on your bank. If they are asking for it, then you have to provide it. Sometimes, banks don't ask for Form 15CA. So, it's advisable to check with your bank for accurate and updated information.