Clubbing of Remittance under LRS Scheme
This query is : Resolved
19 December 2023
Can the father and mother remit separately Rs. 7 Lakh each to their son for educational purposes under LRS Scheme without attracting TCS
Also, what is the definition of "close relatives" for sending money abroad for maintenance of their relatives without attracting TCS provisions under the LRS Scheme?
Also, what is the definition of "close relatives" for sending money abroad for maintenance of their relatives without attracting TCS provisions under the LRS Scheme?
19 December 2023
1 Yes.
2 Spouse, father, mother, son, son's wife, daughter, daughter's husband, brother and sister of the individual are close relatives.
2 Spouse, father, mother, son, son's wife, daughter, daughter's husband, brother and sister of the individual are close relatives.
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