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of <h1>Resident can gift money to NRI/PIO relatives under LRS; ensure total remittances stay within $250,000 annual limit.</h1> A resident individual can gift a rupee amount to a Non-Resident Indian (NRI) or Person of Indian Origin (PIO) who is a close relative, as defined by the Companies Act, 2013, through crossed cheque or electronic transfer. The amount should be credited to the NRO account of the NRI/PIO and is eligible under the Liberalised Remittance Scheme (LRS), subject to a USD 250,000 annual limit. The resident donor must ensure the total remittances, including the gift, do not exceed this limit within the financial year.
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