LRS

Global vs Indian Investing: Why diversification matters for your portfolio?

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Global vs Indian Investing: Why diversification matters for your portfolio?

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

CBDT to initiate investigation into foreign remittances above ₹6 lakh: Report

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CBDT to initiate investigation into foreign remittances above ₹6 lakh: Report

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

Credit card spend overseas to be included in the LRS limit? Here are key things you should know

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Credit card spend overseas to be included in the LRS limit? Here are key things you should know

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