How To Transfer Funds From India To Abroad ? CA Sriram Explains Liberalised Remittance Scheme

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  • Опубликовано: 12 июл 2024
  • #nri #nrimoneyclinic #financialplanning
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Комментарии • 540

  • @internetuser9956
    @internetuser9956 2 года назад +10

    Exactly, Sir! The Definition of What's legal and what's not is constantly changing. Thank God! This channel is clarifying this and more.

  • @MamtaSharma-qv7rf
    @MamtaSharma-qv7rf 2 года назад +17

    I request you to cover how a new immigrant can transfer their funds overseas

  • @mathewkl9011
    @mathewkl9011 2 года назад +3

    Beautifully explained sir. Very useful to common people. Kudos to both sirs👍

  • @spreadgoodness1
    @spreadgoodness1 2 года назад +2

    Like all your videos this is also superb. Every information is authentic. What a great service! Be blessed always.

  • @sumit2000in
    @sumit2000in 2 года назад +3

    This is the best video on FEMA and LRS on RUclips so far.

  • @umeshrr4469
    @umeshrr4469 2 года назад +7

    Very simplify explanation Thanks you both.
    It will be very helpful if you cover NRI inr remittance to foreign

  • @sarvesondurai9319
    @sarvesondurai9319 2 года назад +1

    Very useful information. Details are explained in a lucid manner and cover all kinds of needs/requirements.

  • @vijayanpillai3800
    @vijayanpillai3800 2 года назад +2

    A great information and that clears lots of doubt of common man. Thanks a lot.

  • @kannada080665
    @kannada080665 2 года назад +2

    Beautifully Explained, Your effort to simplify rules is praise wothy

  • @prasadhonnavara875
    @prasadhonnavara875 2 года назад +2

    Very good interview n good analysis by the anchor n the learned young CA.i am really enlightened.thank you.

  • @adityasarma4425
    @adityasarma4425 Год назад

    Dhanyawad ji for excellent and lucid presentation by SriRam ji and impressive anchoring subject u chose.

  • @tincyannehot
    @tincyannehot 2 года назад +1

    One very common topic touched. Great job!

  • @nirmalaarote9566
    @nirmalaarote9566 2 года назад +1

    EXCELLENT INFORMATION.THANKS TO BOTH SIRS.

  • @Drganguli
    @Drganguli 2 года назад +3

    Very useful information for students studying abroad and their parents

  • @bluevaruns
    @bluevaruns 2 года назад +1

    Very informative. Thank you for a great session and sharing.

  • @jatinkumarbarot6984
    @jatinkumarbarot6984 2 года назад

    Good information, every person whose children at abroad should know about lrs.

  • @karuppiahp235
    @karuppiahp235 2 года назад +3

    VERY very useful information explained in detail, depth in a easily understandable way by both -CA & Mr Chandrakanth - the questions asked by CK are very relevant and required for those who donot have much awareness about FX ! Great effort. A must watch video. Thanks a lot to both.

  • @sreedharanmenokey3488
    @sreedharanmenokey3488 2 года назад +2

    Excellent presentation
    Good pronunciation
    Thank you thank you thank you
    (Please make a reference to GST applicable to Foreign outward remittance)

  • @ragininigam4280
    @ragininigam4280 2 года назад

    Very well explained.
    Thank you very much.
    It's a big help for us.

  • @potatolover6340
    @potatolover6340 Год назад

    Thanku very much sir..... This video cleared most of my doubts.... God bless u.... Keep making such informative videos 👍

  • @ramanremella8418
    @ramanremella8418 2 года назад

    The best on the subject. Thank you

  • @bornagainhuman7581
    @bornagainhuman7581 2 года назад

    Awesome content. Liked the detailed explanation.

  • @ranisrikumar5735
    @ranisrikumar5735 Год назад

    Very good presentation and guidance, without wasting time 🎉🙏

  • @sanketjoshi6620
    @sanketjoshi6620 2 года назад +1

    Very coherent and succinctly provided information.

  • @1974xaviers
    @1974xaviers 2 года назад

    Dr. Chandrkant your videos was helpful..thank you so much

  • @rajanna86
    @rajanna86 2 года назад

    Very informative and educative. Thank you.

  • @nagabhushana1150
    @nagabhushana1150 2 года назад

    Very useful discussion. Thank you.

  • @karthipal
    @karthipal 2 года назад

    Thank you very much for all the details provided.

  • @srinivasantv5863
    @srinivasantv5863 Год назад

    Very useful information. Thanks to both. Great.

  • @raghavansourirajan7243
    @raghavansourirajan7243 2 года назад

    Thanks for advising on such important issue

  • @sitarampal6753
    @sitarampal6753 Год назад

    Very Helpful, my use case I am an NRI wanted to purchase a home and needed some fund from India

  • @rambaskaran1729
    @rambaskaran1729 2 года назад +1

    Health Reasons! Any limit other than $250000?
    Great Financial matters advise and instructions!
    Thanks again!

  • @h.lakshmana.apptha7115
    @h.lakshmana.apptha7115 2 года назад

    very informative, sincerely thank you.

  • @vivekananad
    @vivekananad 2 года назад

    very useful information. Thank you sir!

  • @manzoor9alamkhan238
    @manzoor9alamkhan238 2 года назад +2

    Very informative about an issue that is at the back of the minds of a lot of people but didn't know whom to ask.

  • @nairsn1469
    @nairsn1469 2 года назад +2

    Very useful information. Highly appreciated.
    Would appreciate if you could explain the tax implications also for transfer up to INR 7 lakhs.

    • @khajuriaarun8874
      @khajuriaarun8874 2 года назад +1

      UpTo 7 lacs per financial year by the same remitter there will be no TCS amount exceeding seven lacs will face 5% TCS

  • @jawaharbhalla9759
    @jawaharbhalla9759 2 года назад

    Very very useful information. Thanks

  • @raviarcot3145
    @raviarcot3145 2 года назад

    Many such chartered accountancy related topics r Wellcome!

  • @haiderrangwala7052
    @haiderrangwala7052 2 года назад

    Excellent interview.

  • @piyushrvyas
    @piyushrvyas 2 года назад

    Thanks a lot, it was very informative.

  • @loveearthly
    @loveearthly 2 года назад +1

    Very well made instructional video. Saved the 5% levy on txns for the last 5 mins. 😄🙏🏻

  • @SkiNett
    @SkiNett 2 года назад +3

    You people are doing a great Job, Please keep Educating, Thanks !

  • @712anup1
    @712anup1 2 года назад

    Done Great Job!!

  • @prasangaferdinandusz9866
    @prasangaferdinandusz9866 2 года назад

    Thank you Sir for valubale insight

  • @daredevil1079
    @daredevil1079 2 года назад

    Siram tie brings back memories of my late father, he had one just like that for over 35 years .now I have it .

    • @girishmenon4687
      @girishmenon4687 2 года назад

      No one cares about your tie. Did u even take anything else out of this?

  • @ashpillai
    @ashpillai Год назад +7

    Dear Mr. Bhatt, would it be possible for a video about the proposed changes proposed in the 2023 union budget to outward remittance taxation. An increase to 20% from 5% on remittances above $8500 is definitely worth a discussion!

    • @kalyan1213
      @kalyan1213 Год назад

      Hello Mr, Bhatt
      Can you please reply on this? What are the alternatives to transfer money from India to USA?

  • @meghnadwarrier1227
    @meghnadwarrier1227 Год назад

    excellent video. very informative. thanks

  • @ganeshgarg8225
    @ganeshgarg8225 2 года назад +3

    Your spoken statement may be true,Sir. In practice the financial crooks are transferring the Indian funds to their overseas interests without following the rules with the connivance of the bank and government officials, see Neerav Modi , Vijaya Mallyayya and others to name a few .

  • @utube460
    @utube460 6 месяцев назад

    Very appropriate & this makes the matter crystal clear !

  • @cypriandantis4487
    @cypriandantis4487 2 года назад

    Thanks for the update information. All the best. God bless

  • @sumitdesai9265
    @sumitdesai9265 Месяц назад

    Excellent content!!!! Great information!!!! Lengthy video but with lots of details and information. Thank you for making this video.

  • @jesussavesmission9240
    @jesussavesmission9240 2 года назад

    Useful information.,Thank you

  • @rambond7539
    @rambond7539 2 года назад +1

    Very good information, learned new thing about TCS. Thanks. Can you make a video of transferring funds from NRO to NRE account?

    • @NRIMoneyClinic
      @NRIMoneyClinic  2 года назад

      This video is already there on the channel

  • @veenasinha6622
    @veenasinha6622 2 года назад

    Important topic talk.🇬🇧

  • @subhashkharat2592
    @subhashkharat2592 Год назад

    Very nicely explained.

  • @nareshkumars5124
    @nareshkumars5124 2 года назад

    thanks for educating me

  • @anil_madan
    @anil_madan Год назад +2

    Dear Chandrakant,
    I found this video quite useful.
    Could you pls. inform how OCI card holders can transfer their INR funds to their overseas account ?

  • @prakashdusane3443
    @prakashdusane3443 Год назад

    Highly Informative

  • @kkrishnamoorthy8213
    @kkrishnamoorthy8213 2 года назад

    A good service by NRI Money Clinic.

  • @rajneeshchaudhary3397
    @rajneeshchaudhary3397 2 года назад

    thank u so much sir

  • @leg875
    @leg875 Год назад

    4:29 things are getting crystal clear only Chandrakanth sir explains :)

  • @kunal9657
    @kunal9657 Год назад

    Very Informative Video.

  • @yettapunarayanareddy7284
    @yettapunarayanareddy7284 Год назад +1

    Good analysis

  • @mobilemjd
    @mobilemjd Год назад

    Thank you Sir 🙏

  • @shinedas2264
    @shinedas2264 2 года назад

    Good subject and good attempt

  • @mahendranparameswaran9306
    @mahendranparameswaran9306 2 года назад

    Thanks Sir good information

  • @pratibhaangane1013
    @pratibhaangane1013 2 года назад

    Very nice information

  • @sbalap
    @sbalap Год назад

    Excellent information

  • @manoharansubramaniam8595
    @manoharansubramaniam8595 2 года назад

    Very informative and useful.

    • @premraj313
      @premraj313 Год назад

      Please explain how regular pension can be transferred from India to say USA

  • @cedricdias8764
    @cedricdias8764 2 года назад

    When you conduct a discussion like this both or all people should be visible in the frame.

  • @radhakrishnank1147
    @radhakrishnank1147 Год назад

    Valuable informations

  • @manjitsinghkahlon3792
    @manjitsinghkahlon3792 2 года назад

    This is very informative pl let us know the rate of sending money which is very complicate and let of people facing of over paying for sending the money outside india

  • @dilipipatel8541
    @dilipipatel8541 2 года назад

    Very good and necessary information. Thank you, sir.

  • @jayantdave1307
    @jayantdave1307 2 года назад

    Very informative video, in simple language. Can you please give information about the income-tax liabilities on gift given to a married daughter by father?

    • @sriramrao2514
      @sriramrao2514 Год назад

      There is already a video on Taxation of Gift... watch it and be guided...

  • @FarooqAhmad-en1so
    @FarooqAhmad-en1so Год назад

    Very aptly put.This is an year old video.DR Sahab does the information still hold good?Have the rules changed?Thank you again.

  • @subhajitguha3283
    @subhajitguha3283 2 года назад

    Could you please enlighten whether to FiIe FORM ODI of PART I. As per my understanding Form A2 laso needs to be filed for Annual performance report. Kindly let me know what are the forms need to be filed and when

  • @SV-go5ue
    @SV-go5ue 2 года назад

    A very good video covers all aspect. Thank you so much! One quick question. Do we need to fill A2 even when a parent gift money to his son/daughter who is an NRI by transferring from resident indian account to NRI's son/daughter NRO account in india?

    • @sriramrao2514
      @sriramrao2514 2 года назад

      No such compulsion now on payments to NRO account from resident account as it is not repatriated from India...

    • @SV-go5ue
      @SV-go5ue 2 года назад

      @@sriramrao2514 Thank you so much Sir!

  • @radhakrishnank1147
    @radhakrishnank1147 Год назад

    Thanks

  • @kishorecoelho3186
    @kishorecoelho3186 Год назад

    Found your presentation very informative. Could you kindly advise the protocols for transfer of INR overseas by a NRI to a foreign national. Thanks

    • @NRIMoneyClinic
      @NRIMoneyClinic  Год назад

      There are many videos on this topic on this channel. Please search through appropriate playlist on the channel

  • @---bk2hj
    @---bk2hj 2 года назад

    Excellent

  • @mysorenataraj1378
    @mysorenataraj1378 2 года назад +2

    At one point your expert said even a loan given to a son by father comes under lrs? A child can be given any amount as a gift correct? How do you distinguish a loan with out interest from a gift?

    • @sriramrao2514
      @sriramrao2514 2 года назад

      Very debatable issue… it all depends on execution of transactions & documents/evidences in that aspect…

  • @anilnarang4243
    @anilnarang4243 2 года назад

    Greater Video! One question, can an NRI with NRO Account gift money in INR to his pairents or Relations from his NRO account?

  • @Ankur71284
    @Ankur71284 2 года назад +37

    After seeing the title I thought they will talk about how NRI can bring his own money from India to USA 🇺🇸 .. why India make everything so hard I can send money to India 🇮🇳 from USA 🇺🇸 Xoom $50000 easily but not other way around ..

    • @sir-cute
      @sir-cute 2 года назад +1

      True bro. Did you find the right and most economic way to do so ?

    • @Ankur71284
      @Ankur71284 2 года назад

      @@sir-cute not yet .. didn’t go India last year ..

    • @inspirationalshortvideos247
      @inspirationalshortvideos247 2 года назад +1

      I agree. The answer is its a third world country.

    • @satendramalhotra44
      @satendramalhotra44 Год назад

      good info. There are NRIs who were earlier RIs for long years and have funds earned and accumulated in INR in India. How do such NRIs remit such funds abroad fir their own use/ use off relatives etc

    • @deepikaatkinson4111
      @deepikaatkinson4111 Год назад

      You are right, I just experienced this!!
      I have transferred funds to India many times from the US, but when I try to get my money back from india there is a restriction on how I can get to another country every year and I got disappointed..
      Unless it is a business bank, I think you may transfer a lot more funds from India. Well, I will get to know about that too..

  • @sairajeev7495
    @sairajeev7495 2 года назад +1

    How about transferring money from my account in india to a foreign account under my name again. Do we have any restrictions?

  • @atul58
    @atul58 Год назад

    If someone wishes to gift an amount to his child who is now foreign citizen ( person of Indian origin) do the same rules apply ?

  • @sumeetarora6552
    @sumeetarora6552 2 года назад

    Pls explain how we transfer from abroad to india ..n whatis limit in nre acct in one financial year

  • @swatiharish9562
    @swatiharish9562 2 года назад

    Thank you such a wonderful information.
    One question regarding education loan.
    I am a parent and funding my child's education .
    Is it treated as education loan?
    What documents to provide to show to
    this as education loan?

    • @sriramrao2514
      @sriramrao2514 2 года назад

      Education loan means the one taken from financial institutions or banks for educational purposes

  • @rajalakshmisundaresan9623
    @rajalakshmisundaresan9623 Год назад

    Good.

  • @anandc3974
    @anandc3974 7 месяцев назад

    Very informative

  • @fatimavaz6974
    @fatimavaz6974 2 года назад +1

    Very well explained. It was very helpful & informative was looking out for this info.
    As I have done remittance abroad of 6.70lakhs filling A2 form. But I feel hdfc bank should not have collected tcs for this transaction. What is to be done. Can you advice..thanks.

    • @manishkukreja4040
      @manishkukreja4040 2 года назад

      You may adjust the TCS already paid against the IT return that you would file for that particular financial year.

    • @khajuriaarun8874
      @khajuriaarun8874 2 года назад

      TCS will be levied @5% on amount exceeding seven INR per year under same PAN

  • @mythilisundar8012
    @mythilisundar8012 Год назад

    If transferred as Gift from Resident to Non Redident either thru forex or INR whether it will not attract gift tax to be paid by the receiver.

  • @seetha913
    @seetha913 Год назад

    Please also add bank accounts ... Which bank account debited domestic/nro.... Which account the amount credited NRE/FCNR...etc...more helpful to us

  • @ramnamdeo2060
    @ramnamdeo2060 Год назад

    Thank you so much for clarifying. Is there a video explaining giving of money as a gift from a resident Indian to a NRI in Canada?

    • @NRIMoneyClinic
      @NRIMoneyClinic  Год назад +1

      There is a video on taxation of gifts on this channel

    • @ramnamdeo2060
      @ramnamdeo2060 Год назад

      @@NRIMoneyClinic Thank you !

  • @rambaskaran1729
    @rambaskaran1729 2 года назад +1

    How about Repatriation of money invested in India in Foreign currencies , the interst, profit, principal and inherited asset, Indian Rupee money?
    Sale money of Inherited Residential asset by diseased OCIs by heirs of diseased OCIs?
    Thanks!

  • @rrdkirori
    @rrdkirori Год назад

    Sir, what is capital account for resident indian or when required to be opened by a resident indian

  • @chanderasarpota9280
    @chanderasarpota9280 2 года назад

    Pls clarify is TCS form is required for transferring funds overseas to my child, from my RFC account.

    • @sriramrao2514
      @sriramrao2514 2 года назад

      While making payment from RFC the same will automatically be considered under LRS & TCS will directly be collected by banker, if the same becomes applicable… no separate form for it…

  • @Indchand
    @Indchand 2 года назад +1

    Thank you very much. My doubt about TCS got cleared. Even if you have to pay TCS, it can be adjusted or claim refund in the Income Tax return of the subsequent year.

  • @kamymehta
    @kamymehta 11 месяцев назад

    Sir Good information. One clarity required - Is this limit of LRS or USD 2.5 lac also applies for the resident transfer to Non resident in its NRO account?

  • @ravichidambaramiyer275
    @ravichidambaramiyer275 5 месяцев назад

    excellent

  • @sanjuktabagchi4461
    @sanjuktabagchi4461 2 года назад

    Very good information like to know how an OCI could transfer money from India to a foreign country and what’s the upper limit

    • @sriramrao2514
      @sriramrao2514 2 года назад

      There is one more video on this channel explaining $ 1 million scheme... you can watch the same and be guided...