RBI issues clarification on TCS applicability under LRS for credit card spends abroad
The RBI has clarified that international credit card spends will be included within the LRS limit. TCS at applicable rates will apply on cumulative remittances exceeding ₹7 lakh per financial year.
📅 March 2025
FEMA amendment: Updated documentation requirements for student remittances
New guidelines require submission of university enrolment letter for remittances classified under 'studies abroad'. Purpose code has been updated in the RBI's standardised list.
📅 February 2025
RBI allows AD Banks to extend forex facilities to NRIs for property investments
The Reserve Bank of India has expanded facilities allowing Authorised Dealers to process forex for NRI property purchases under the updated FEMA guidelines.
📅 January 2025
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