Liberalised Remittance Scheme of USD 200,000

Dear Shridhi,

Under LRS, an individual is permitted to invest upto USD 200,000 without taking approval from RBI but that doesnt mean he is unrestrained from intimating to RBI. He has to intimate and give all the details of investment to RBI. However, if you are routing your investment transaction through authorised dealer, the concerned bank i.e AD will guide you through the procedure and will intimate to RBI on your behalf.

Other views welcomed.

Thnx

Archana

Hey thanks, Archana.

I know that the investor has to inform the AD about the investment, who will forward the investment information to RBI.

But besides that, do anybody need to inform to any of the government authorities in any way ?

Like do the investor has to give detail of investment in ITR ? or do the investor need to give details of investment to RBI, AD etc. on regular basis ?

One more thing,  income from that investment is taxable in India, so do we need to give full details of the investment and income generated from that investment ?

Dear Shridhi

No intimations to any one except RBI and tht also AD will ask u wenevr anything is required from ur side whter periodically or on regular basis.they r specialised persons in dis and are accountable for returs to rbi.

yes ur details about investment & income should be reflected in annual accounts.

thnx

Originally posted by : Shridhi Jain
	Hey thanks, Archana. I know that the investor has to inform the AD about the investment, who will forward the investment information to RBI. But besides that, do anybody need to inform to any of the government authorities in any way ? Like do the investor has to give detail of investment in ITR ? or do the investor need to give details of investment to RBI, AD etc. on regular basis ? One more thing,  income from that investment is taxable in India, so do we need to give full details of the investment and income generated from that investment ?

Yes the income from overseas investments is taxable in India . Apart from intimation to RBI through AD no other intimation is required.

Only income generated from such investment shall be needed to reported in ITR.

Anuj

+91-9810106211