استمتع بـUnlimited مع Magzter GOLD
احصل على وصول غير محدود إلى أكثر من 9000 مجلة وصحيفة وقصة مميزة مقابل
يحاول ذهب - حر
Does LRS limit apply to NRO account?
February 20, 2024
|Mint Mumbai
I am a businessman and run a clothing company in India. My daughter has gone to the US for her undergraduate studies.
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I want to gift her a sum of approximately 15 crore for her future security. I am aware that if I transfer money to her foreign bank account, I would be able to transfer only $250,000 in a financial year as per LRS (Liberalised Remittance Scheme) limits and it will be subject to TCS (tax collected at source). I have been advised that I can instead gift her this entire sum in her NRO (non-resident ordinary) account in India at one go and then she will be able to remit $1 million per financial year outside India. Is this correct? Would this route attract TCS too? -Name withheld on request
هذه القصة من طبعة February 20, 2024 من Mint Mumbai.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
هل أنت مشترك بالفعل؟ تسجيل الدخول
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