Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

RBI increased Forex Remittance Limit to 250,000 USD from 125,000 USD

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The Reserve bank of India in its recent monitory polciy review (FEB 3rd) revised the limit under Liberalised Remittance Scheme (LRS) to $250,000 per person per year. Earlier (June 2014) RBI had increased the Forex remittance from 75,000USD to 125,000 USD

INDIA-ECONOMY-RBI

 
“On a review of the external sector outlook and as a further exercise in macro prudential management, it has been decided to enhance the limit under the LRS to $250,000 per person per year,” RBI governor Raghuram Rajan said.

“Furthermore, in order to ensure ease of transactions, it has also been decided in consultation with the government that all the facilities for release of exchange/remittances for current account transactions available to resident individuals under Schedule III to Foreign Exchange Management (Current Account Transactions) Rules 2000, as amended from time to time, shall also be subsumed under this limit,” RBI said.

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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8 Replies to “RBI increased Forex Remittance Limit to 250,000 USD from…”

  1. Hi, I am thinking about relocating to Bangalore from USA, but it seems that several restrictions exist against forex / cfd tradings.
    I am wondering if this law is still existing and is being applied to residential/non-residential aliens.
    I also wonder how Indian govt taxes on capital gains from forex/cfd.
    Thanks!

  2. Hello,

    Please .Help Me …I Know FOREX trading illegal in India , but I am An IB of forex.com broker and also FCA UK… .I get. Commission from by referring clients ( per 1 lot /$5 ). In 6 months period..I got around $300000 But how can I withdraw money ..they send money via bank transfer only ..is it illegal ..please help ..thanks in advance

    Thanks
    Santhosh

    1. Hi Santhosh, As long as you are not trading cfd’s/forex it will be a business income. It is a professional consulting income by referring clients. Once the money is transferred to your account in India it is subject to tax (IT)

      Ashwath

  3. Please .Help Me …I Know FOREX trading illegal in India . i am trading mtrading i like forex trading what to do ………….

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