Liberalised Remittance Scheme (LRS) for Resident Individuals – daily reporting of transactions

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..... refer to the announcement made in para 10 of Part II of the First Bi Monthly Monetary Policy Statement 2018-19 dated April 05, 2018. 2. Currently, transactions under Liberalised Remittance Scheme (LRS) are being permitted by AD banks based on the declaration made by the remitter. The monitoring of adherence to the limit is confined to obtaining such a declaration without independent verificati .....

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..... is circular have been issued under Sections 10(4) , 11(1) and 11(2) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions/approvals, if any, required under any other law. Yours faithfully, (R K Moolchandani) Chief General Manager - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - tax .....

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