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OUTWARD REMITTANCES LRS
As rupee dips, I-T steps up vigil on shady outflowsIn multiple cases, individuals have used dozens of fake permanent account numbers (PANs) with the same name but different addresses and dat...15 May, 2026, 01.12 AM IST- As PM Modi appeals, govt & India Inc set to operate on a war footingIndia's government is preparing to discuss ways to manage the impact of the West Asia war. Prime Minister Narendra Modi has urged citizens ...12 May, 2026, 07.34 AM IST
- Outward remittances under LRS flat at $2.36 billionIndians sent $2.36 billion abroad in October under the Liberalised Remittance Scheme. Travel spending was $1.35 billion. Investments in equ...23 Dec, 2025, 01.08 AM IST
- Outward remittances dip 8% to $2.13 bn in June, overseas investments surge 98%Data shows outward remittances under the Liberalised Remittance Scheme fell in June. The Reserve Bank of India bulletin revealed an 8% mont...29 Aug, 2025, 12.55 PM IST
- Outward remittances down to $2.3 billion in May: RBI BulletinOutward remittances from India reached $2.3 billion in May, according to recent bulletin data. Travel expenses constituted the largest port...24 Jul, 2025, 06.26 AM IST
- India plans curbs on overseas remittances, offshore deposits may be barred: SourcesThe Reserve Bank of India (RBI) is set to tighten regulations on overseas remittances by resident Indians, preventing the parking of funds ...12 Jun, 2025, 11.12 AM IST
- TCS paid on foreign remittances, purchase of car can be used to lower TDS on salaryTCS on Foreign remittances: Budget 2023 raised TCS on most foreign remittances under LRS to 20%. The initial implementation was met with cr...23 Jul, 2024, 02.54 PM IST
- India sees 16% decrease in outward remittances under LRS in May 2024India's liberalised remittance scheme saw a 16% year-on-year decrease in outward remittances, with a total of $2.42 billion remitted in May...18 Jul, 2024, 06.39 PM IST
- LRS outflows fall sharply in October after TCS regime takes effectRemittances down 37% over September; shift to credit-card spending for international travel likely. In October, outward remittances under t...22 Dec, 2023, 12.41 AM IST
- New TCS rules have kicked in: Here's what gets costlier and what remains sameStarting October 1, 2023, new tax collection at source (TCS) rates will affect various financial transactions, such as international travel...02 Oct, 2023, 03.07 PM IST
- Credit card payments on foreign tours may be brought under LRS to ensure compliance with TCSThe Union Budget 2023 proposed a TCS for foreign outward remittance under LRS other than for Education and medical purposes of 20 per cent ...15 May, 2023, 07.04 AM IST
- Important aspects to keep in mind while making cross-border outward remittancesA bank with a strong international footing like ICICI Bank ensures a secure and simple way to send money abroad.21 Nov, 2022, 12.17 PM IST
- RBI Liberalised Remittance Scheme: How Indians can use LRS to invest, remit money abroadExplained below is the basic framework of LRS and how Indian residents can make foreign transactions under it.22 Sep, 2022, 10.31 AM IST
- Indians sent $2 billion abroad in September, some for a few cryptos moreAs per analysts' speculation, there is a possibility that the remitted money under any permissible LRS head, could be subsequently used for...25 Nov, 2021, 10.23 AM IST
- Outward remittances pick up pace, rise 34% sequentially since OctoberThough overall remittances are still at one third less than $1.8 billion sent in January of 2020, the pandemic induced lockdown globally ha...25 Mar, 2021, 10.30 PM IST
- Outward remittances slows down during the pandemicBesides, spends on travel, studies and maintenance of relatives abroad which comprise bulk of the outflows, it also includes overseas inves...03 Feb, 2021, 09.17 PM IST
- Indians sent a record $4.6 billion abroad as outward overseas remittancesThese outflow earlier appeared under a different heads. Besides, the limit for remittances which was lowered in September 2013 was restored...17 May, 2016, 07.44 PM IST
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