The Reserve Bank of India’s (RBI) Liberalized Remittance Scheme (LRS) facilitates outward remittances, allowing Indian residents to send up to USD 250,000 annually for various permissible transactions. Recent data from the RBI highlights the diverse reasons for remittances made by residents under LRS, alongside the yearly growth rate for the fiscal year 2024.
Please click here to read the full article by Partner Kumarmanglam Vijay & Associate Harshita Agrawal, published in ETInsights.
Kumarmanglam is an equity partner of the firm and also heads the direct tax and regulatory practice at JSA. He has more than 25 years of experience in matters relating to direct taxation (including international taxation, transfer pricing, litigation, anti-avoidance laws, and M&A tax), accounting, and corporate laws including mergers and acquisition, joint ventures, foreign investments, market entry strategy, and corporate restructuring.