FAQs on Forex Facilities including the Liberalised Remittance Scheme (LRS) for Residents (Updated up to July 1, 2015). https://www.taxtmi.com/news?id=14688 The Liberalised Remittance Scheme permits resident individuals to remit funds abroad for permissible current and specified capital account transactions within an annual ceiling, covering travel, education, medical treatment, gifts, maintenance, emigration expenses and select overseas investments. Prohibited remittances and transfers to high risk jurisdictions remain barred. Remitters must submit prescribed declarations and Form A2; Authorised Dealers must perform due diligence, verify genuineness, obtain supporting documentation for capital transactions, comply with KYC/AML norms, and report remittances in prescribed returns. en-us Thu, 09 Jul 2015 16:42:16 +0530 Thu, 09 Jul 2015 17:34:00 +0530 TaxTMI RSS Generator FAQs on Forex Facilities including the Liberalised Remittance Scheme (LRS) for Residents (Updated up to July 1, 2015). https://www.taxtmi.com/news?id=14688 The Liberalised Remittance Scheme permits resident individuals to remit funds abroad for permissible current and specified capital account transactions within an annual ceiling, covering travel, education, medical treatment, gifts, maintenance, emigration expenses and select overseas investments. Prohibited remittances and transfers to high risk jurisdictions remain barred. Remitters must submit prescribed declarations and Form A2; Authorised Dealers must perform due diligence, verify genuineness, obtain supporting documentation for capital transactions, comply with KYC/AML norms, and report remittances in prescribed returns. News - Thu, 09 Jul 2015 16:42:16 +0530 https://www.taxtmi.com/news?id=14688