Liberalised Remittance Scheme (LRS), Limit, Tax & Benefits
Liberalised Remittance Scheme:- Indians who live overseas for work, school, or other reasons frequently require financial support from their friends and family back home. However, prior to 2004, the Foreign Exchange Management Act of 1999 imposed stringent limitations on the transfer of funds from India to other nations. For this reason, the Reserve Bank of …
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