Liberalized Remittance Scheme

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Liberalized Remittance Scheme (LRS) – N.D. Savla & Associates

The Liberalized Remittance Scheme (LRS) allows Indian residents, including NRIs returning to India, to remit up to USD 250,000 per financial year for permitted current or capital account transactions. While the scheme opens opportunities for global investments, education, property purchase, and family maintenance abroad, it requires careful compliance with FEMA and RBI guidelines. At N.D. Savla & Associates, we provide complete assistance for LRS remittances, ensuring your transfers are legally compliant and hassle-free.

Overview

Under the LRS, individuals can remit money overseas for purposes like foreign education, travel, investments in shares or property, gifts and donations, or medical treatment abroad. However, the process requires proper documentation, CA certification, and adherence to RBI reporting requirements.

Features

  • Advisory on permissible and non-permissible LRS transactions

  • Structuring foreign remittances within RBI’s USD 250,000 limit

  • Support for investments abroad in shares, property, or deposits

  • Assistance in education-related and maintenance-related remittances

  • Chartered Accountant certification of Form 15CA & Form 15CB

  • FEMA compliance and reporting through Authorized Dealer Banks

Documents Required

  • Passport & PAN card

  • Form A2 (LRS declaration form)

  • Bank KYC documents

  • Source of funds proof (income details, sale deed, investment papers)

  • Chartered Accountant certificate (Form 15CB)

  • Form 15CA acknowledgement

  • Purpose-specific documents (admission letter for education, gift declaration, property agreement, etc.)

Procedure

  • Eligibility Check – Confirm that the purpose of remittance is permitted under LRS.

  • Tax & Source Verification – Validate source of funds and compute any tax liability.

  • Certification – Chartered Accountant issues Form 15CB.

  • Online Filing – Submit Form 15CA on the Income Tax Portal.

  • Bank Submission – Provide Form A2, CA certificates, and supporting documents to Authorized Dealer Bank.

  • Execution of Transfer – Bank remits funds abroad within LRS limits.

Why This Matters

Many individuals face delays or rejections due to incorrect documentation or non-compliance with RBI and FEMA rules. Our expertise ensures that your LRS remittance from India is smooth, compliant, and optimized for your financial goals.