https://www.taxtmi.com/forum/issue?id=120677 Transfer of funds earned in the United States and retained in a U.S. bank account after returning to India raises FEMA and Liberalised Remittance Scheme questions. The discussion asks whether such money may be sent to a U.S. friend's account as a gift or loan, whether the USD 250,000 annual remittance cap applies, whether prior RBI approval is needed, and whether the amount may exceed that ceiling. The replies note that ECB rules are not applicable, while views differ on whether the funds are outside the LRS limit or whether resident outward remittances remain subject to LRS unless RBI approval is obtained. en-us Sun, 28 Dec 2025 16:02:45 +0530 Sat, 02 May 2026 14:16:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120677 Transfer of funds earned in the United States and retained in a U.S. bank account after returning to India raises FEMA and Liberalised Remittance Scheme questions. The discussion asks whether such money may be sent to a U.S. friend's account as a gift or loan, whether the USD 250,000 annual remittance cap applies, whether prior RBI approval is needed, and whether the amount may exceed that ceiling. The replies note that ECB rules are not applicable, while views differ on whether the funds are outside the LRS limit or whether resident outward remittances remain subject to LRS unless RBI approval is obtained. Discussion-Forum FEMA Sun, 28 Dec 2025 16:02:45 +0530 https://www.taxtmi.com/forum/issue?id=120677