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How Much Money Can an Individual Send Abroad from India Under LRS?

Learn about the Liberalized Remittance Scheme allowing Indians to send up to $250,000 abroad annually for education, travel, and investment.

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Video transcript

Individuals in India can remit up to $250,000 abroad per financial year under the Liberalized Remittance Scheme (LRS). This can be for various purposes including education, travel, and investment. Proper documentation and adherence to RBI guidelines are required.

Questions and answers

  1. What is the maximum amount an individual can send abroad from India?

    Under the Liberalized Remittance Scheme (LRS), an individual can remit up to USD 250,000 per financial year for permitted purposes.

  2. What are the permitted uses of money sent abroad under the LRS?

    Money can be sent abroad for education, travel, investment, medical treatment, maintenance of relatives, and other approved purposes.

  3. Are there any documentation requirements for sending money abroad from India?

    Yes, individuals must comply with RBI guidelines and provide proper documentation to ensure the remittance adheres to the LRS rules.

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For more insights on sending money abroad and managing international finances from India, check out our related content covering RBI guidelines, Forex procedures, and tax implications for remittances.