FEMA STUDY CIRCLE MEETING (FOR FEMA SC MEMBERS ONLY)

Individuals are permitted to make remittances outside India under the limit of $ 2,50,000/- per Financial Year towards any permissible Current Account and Capital Account transaction(s). It is essential for advisors to be aware about the regulations while advising their clients on remittances under LRS to avoid contravention of law. Common questions on this topic are: Can family members club remittances under LRS? Can remittances made in preceding FYs be used for any purpose outside India in current FY? Can forex be gifted in form of currency notes to close relative under LRS? Whether LRS route can be used for emigration purposes by investing in foreign immigration schemes? Whether sale proceeds of assets originally purchased through LRS need to be repatriated?

Remittances under Liberalised Remittance Scheme (‘LRS’) generally spike towards the end of a financial year. This meeting has been arranged to understand in detail the (substantive and reporting) regulations dealing with remittances under LRS.

We request you to please mark your diaries and make it convenient to attend and participate actively in this study. Speaker will discuss various practical examples and his vast experience of FEMA on other aspects wherever reference may be required from other notifications and circulars/master directions

Please note that, henceforth all notices for meetings of FEMA Study Circle will be sent via email only. If any member wishes to receive notice in hard copy, they may intimate the same to any of the conveners.

Kindly ensure to pay annual FEMA Study Circle fees of ₹ 1,770/- (inclusive of GST) before attending this meeting. If you have not paid the annual membership fees, you can also attend this session by paying ₹ 200/- (inclusive of GST) on the spot at CTC
office.