Rupee gift to NRI/PIO permitted under LRS, must be credited to NRO account and comply with annual remittance limit. A resident individual may make a rupee gift to a NRI/PIO close relative by crossed cheque or electronic transfer, to be credited as an eligible credit to the recipient's Non Resident (Ordinary) Rupee Account (NRO); the donor must ensure the gift and all remittances in the financial year remain within the Liberalised Remittance Scheme limit.
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Provisions expressly mentioned in the judgment/order text.
Rupee gift to NRI/PIO permitted under LRS, must be credited to NRO account and comply with annual remittance limit.
A resident individual may make a rupee gift to a NRI/PIO close relative by crossed cheque or electronic transfer, to be credited as an eligible credit to the recipient's Non Resident (Ordinary) Rupee Account (NRO); the donor must ensure the gift and all remittances in the financial year remain within the Liberalised Remittance Scheme limit.
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