Foreign Remittance for meeting expanses during study abroad.
Cmohan Kachroo (15 Points)
06 December 2021Cmohan Kachroo (15 Points)
06 December 2021
JJJ
(Need help)
(673 Points)
Replied 06 December 2021
Part of the overall LRS so a quarter million dollars per year (ie 2.5 lakh dollars).
No special treatment in your accounts, just combine it with your personal expenses / drawings / withdrawals from capital.
And if the bank charges you TCS remember to take credit for it in your return just like you would for TDS.
Pretty straightforward.