New LRS Regulations Cause Concern for Wealthy Indians Parking Funds Abroad

Rashmi , Last updated: 28 April 2023  
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The Liberalised Remittance Scheme (LRS) regulation in India has been revised, making it difficult for wealthy Indians to accumulate wealth in offshore bank accounts. Under the new rule, if an individual has legitimate money outside India in the form of foreign exchange, they must either invest it or

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Rashmi
(business)
Category Income Tax   Report

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