1. NRI APNE BROTHER YA RELATIVE SE KITNA AMOUNT NRI YA NRO ACCOUNT MAI LE SAKTA HE
2. JO TAXABLE NA HO
3. LRS SCHEME KYA HE
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Quick Summary
This discussion clarifies the rules for Non-Resident Indians (NRIs) sending money to relatives or for donations abroad. It explains that an individual can remit up to USD 2,50,000 per financial year as a gift or donation. Additionally, it touches upon Tax Collected at Source (TCS) which is applicable if the amount exceeds Rs. 7 lakhs annually.
1. An resident individual may remit up-to USD 2,50,000 in one FY as gift to a person residing outside India or as donation to an organization outside India.
2. TCS will be deducted if amount exceeds Rs. 7 lakhs P.A.