Synopsis The Liberalised Remittance Scheme (LRS) allows all resident individuals (as defined under FEMA 1999), including minors, to remit up to USD 250,000 per financial year (April–March) for any permitted current or capital account transaction, or a combination of both. Under the Finance Act 2020, Tax Collected at Source (TCS) was introduced on foreign exchange...
If you need to transfer funds electronically for overseas wire transactions, you can use a telegraphic transfer (TT). This method is often referred to as Clearing House Automated Payment System (CHAPS) transfers in the UK banking system. It is also known as telex transfer. Usually, it will take two to four business days to complete...
Do you need to send money internationally to buy a property? Finding a secure, efficient, and affordable method for sending your funds is important regardless of location. This blog will provide all the necessary information on transferring money to buy an immovable property overseas. What is an Immovable Property? You may be familiar with the...
The Easiest Country To Immigrate From India- New Zealand! Everyone desires a better quality of life, job opportunities, and financial stability, which often leads to migration to foreign countries. However, this process can be tiring, and the lengthy procedures and inquiries of immigration departments can make it even more burdensome. For those lacking patience, it...
Canada is a dream destination for people from all over the world, including Indians. While some move for education, others do so for job opportunities. Ultimately, the goal is to obtain a Canadian permanent residence visa. After the Philippines, India is the second largest country from which people move to Canada. Many Indians opt for...
Lately, the US dollar has been facing increasing criticism, with phrases like “financial terrorist” and “extra-territoriality” being thrown around. As a result, the term “de-dollarization” is becoming more popular in Google search trends. In this article, we explore whether the US dollar’s reign is truly coming to an end. De-dollarization: Challenging the US Dollar’s Supremacy...
