Question

    What is the maximum amount allowed per financial year under the Liberalised Remittance Scheme for resident individuals, including minors?

    A USD 1,00,000 Correct Answer Incorrect Answer
    B USD 1,50,000 Correct Answer Incorrect Answer
    C USD 2,00,000 Correct Answer Incorrect Answer
    D USD 2,50,000 Correct Answer Incorrect Answer
    E USD 3,00,000 Correct Answer Incorrect Answer

    Solution

    Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD 2,50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both.

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