Category: LRS and regulation
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What an RBI purpose code is, the six codes students and families use, how the code sets your TCS rate, and how to split a payment that mixes purposes. LRS Purpose Codes Explained: S0305, S1301, S1302 and When to Use Each A purpose code is the five-character RBI label on your Form A2 that tells…
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The LRS limit is USD 250,000 per resident individual per financial year. What counts toward it, how banks track it by PAN, minors, prohibited uses and TCS. LRS Limit FY 2026-27: How Much Money Can You Send Abroad from India? A resident individual can send up to USD 250,000 abroad in FY 2026-27 (1 April…
