Sir.
Now days children are settled abroad. If a parent wishes to help them financially, how much money can he / she send to the child and HOW ( LUMP SUM, 30-40 L)
Anand.
1 Answers
Dear Anand,
The money can be easily transferred many ways ..visit this link..
As per the Reserve Bank of India (RBI) the limit under Liberalized Remittance Scheme (LRS) is $250,000 per person per year.
Suggest you to kindly consult a CA who takes care of NRI taxation matters, to know about the possible tax implications..
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