Want to take money abroad but don’t know how much is allowed?
Liberalised Remittance Scheme by RBI
Under this scheme, a resident individual can take out up to USD 250,000 for permitted transactions per Financial Year
3 things to note here:
- This scheme is for Resident Individuals.
The Scheme is unavailable to corporates, partnership firms, HUF, Trusts, etc.
Plus, if you are not a Resident as per the rules, you must look out for things other than this. - A limit of USD 250,000 is for the Financial Year
Financial Year in India is April – March. So if the other country follows any other Financial Year concept, adjust your planning accordingly. - This is allowed only for permitted current or capital account transaction
Now, what are capital account transactions? Have shared the link to my previous post in comments
Need help with foreign remittance? Get in touch
