Hi.. My mother is NRI for tax purpose. Me my wife and my son are residents. I understand LRS has 250k usd limit. Can I transfer 250k usd each to my wife and son who can then gift the same to my mother. This will allow me to send 750k usd.. 250k from my account and 250k each from my wife and sons account.
Is this legal from Fema and IT perspective.
Thanks.
CAclubindia
