One of our assessee wants to give his son, who is in singapore and wants to start a business there, some amount as gift or as loan. What is the maximum limit he can give as gift or as loan to his son without restriction and also with
restrictions. Please help me in this regard
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Foreign exchange remittance
Replies (5)
GIFT FROM RELATIVE EXEMPTION FROM TAX
Indian Citizen can gift 2 lakh $ per year under LRS to close relatives.
Anuj
+91-9810106211
femaquery @ gmail.com
THANKS FOR SHARING....................
What is LRS?
LRS is Liberised remmitance Scheme for Indian Residents.
Anuj
+91-9810106211
femaquery @ gmail.com
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