LRSvidesh paisa bhejne ki RBI scheme

LRS, the Liberalised Remittance Scheme, is the RBI framework under which a resident Indian can send money abroad each financial year, up to USD 250,000 at the time of writing, for permitted purposes such as education, travel, medical treatment, gifts and buying foreign shares or property. Since 2023, banks collect Tax Collected at Source on many remittances above a threshold, which you can adjust against your income tax. What LRS does not permit is margin trading in forex or derivatives with overseas brokers, and using LRS funds for it is a FEMA violation that the RBI has warned about repeatedly. Someone who wants exposure to US stocks can use LRS to buy them through a permitted platform. Someone who wants to trade currency must use INR-pair contracts on NSE, BSE or MCX-SX. Check the current LRS limit and TCS rates with your bank.