Here’s everything you need to know about it. Investments LRS allows Indians to invest in listed foreign securities – both equity and debt. You can invest in mutual funds, exchange traded funds (ETFs), venture funds, and real estate (with some caveats). You can also invest in listed debt securities such as bonds, but not unlisted … Read more
Most Indian investors have primarily focused on the domestic market for various reasons, including strong economic growth and solid fundamentals. This has led many to overlook investment opportunities abroad. Additionally, restrictions on transferring large sums of money outside India and the additional paperwork involved have further contributed to the India focus. Global opportunities and diversification … Read more
If you are remitting over ₹6 lakh overseas, then it is likely to come under the purview of income tax as Central Board of Direct Taxes (CBDT) has reportedly commenced a thorough investigation into high value foreign remittances above ₹6 lakh, Business Standard reported. The apex body of direct taxes is reportedly cracking down on … Read more
Spending money overseas through credit card does not come under the liberalised remittance scheme limit yet, but it may change in the near future. And if it does, credit card users may have to cough up 20 percent tax collection at source (TCS). As per a media report published recently, bringing credit card spend under the … Read more