Liberalised Remittance Scheme limit increase permits larger annual individual remittances and allows purchase of property abroad. The Liberalised Remittance Scheme ceiling for resident individuals has been increased to a higher annual limit, authorising AD Category I banks to remit up to that revised ceiling per financial year for permitted current or capital account transactions or a combination thereof; the Scheme is explicitly permitted for acquisition of immovable property outside India and all other existing terms and conditions of prior circulars remain applicable.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Liberalised Remittance Scheme limit increase permits larger annual individual remittances and allows purchase of property abroad.
The Liberalised Remittance Scheme ceiling for resident individuals has been increased to a higher annual limit, authorising AD Category I banks to remit up to that revised ceiling per financial year for permitted current or capital account transactions or a combination thereof; the Scheme is explicitly permitted for acquisition of immovable property outside India and all other existing terms and conditions of prior circulars remain applicable.
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