#TaxmannWebinar | Liberalised Remittance Scheme – Law | Procedures | Case Studies

#TaxmannWebinar #TaxmannUpdates #TCS #CaseStudy #ODI #LRS 📋 Coverage of the Webinar: ✔️ Background • Liberalised Remittance Scheme (LRS) • Remittance Prohibited under LRS ✔️ Current & Capital Account Transactions • Definition • Permissible Transactions ✔️ Permissible Current Account Transactions • Private Visits • Gifts • Donations • Employment • Emigration • Maintenance of Close Relatives • Business Trip • Medical Treatment • Student Studying Abroad ✔️ Permissible Capital Account Transactions • Opening Foreign Currency Account with a Bank Abroad • Acquisition of Immovable Property Abroad • Family Member – Clubbing • Overseas Direct Investment under LRS • Extending Loan to Relative Abroad • Remittances to International Financial Service Centre (IFSC) ✔️ Procedure to Remittance ✔️ TCS on Foreign Remittances ✔️ Case Studies ✔️ Q&A Session ___________________________________________________________________________________________ 📢 Speaker: • Natwar Thakrar – Partner | N.G. Thakrar & Co., Chartered Accountants Mr Thakrar is a practising Chartered Accountant specialising in FEMA, International Taxation & Transfer Pricing, Taxation of Charitable Trusts & Taxation of Foreign Shipping and Airline Companies. ___________________________________________________________________________________________ Bonus: • Link for the PPT: https://taxmann.social/stDdx • Get a 7-days free trial for Taxmann.com | Research: https://www.taxmann.com/research • Introducing Taxmann.com | Practice Your virtual legal advisor that helps you understand complex legal concepts and enables you to give instant & best-in-class advice to your clients. This platform delivers complete, updated, accurate, and authentic content in a simple language that is easy to understand. Start your search on any concept of the Law using keywords or section no.: https://www.taxmann.com/practice • All Taxmann Books now come with a 15-Mins Free Trial! Get Started Now! http://taxmann.com/virtualbooks/library ___________________________________________________________________________________________ Like our Content? Follow Us for More! • Follow us on LinkedIn:   / taxmann   • Follow us on Twitter:   / taxmannindia   • Follow us on WhatsApp Channel: https://whatsapp.com/channel/0029VaCe... • Subscribe us on Telegram Channel: https://t.me/taxmannprofessionals • Follow us on Google News: https://news.google.com/publications/... • Follow us on Instagram:   / taxmannindia   • Follow us on Threads: https://www.threads.net/@taxmannindia • Like us on Facebook:   / taxmannindia   • Introducing the TAXMANN's PODCAST! | Your Hands-free Weekly Update on Everything Tax & Corporate Laws | Listen Now! https://thetaxmannpodcast.buzzsprout.com ___________________________________________________________________________________________ 00:00 Introduction 05:23 Background 07:39 Liberalised Remittance Scheme (LRS) 14:49 Remittance Prohibited under LRS 16:53 Current & Capital Account Transactions 18:57 Definition 20:51 Permissible Transactions 22:49 Permissible Current Account Transactions 22:52 Private Visits/Gifts/Donations/Employment 24:53 Emigration/Maintenance of Close Relatives/Business Trip 27:20 Medical Treatment/Student Studying Abroad 29:15 Permissible Capital Account Transactions 29:16 Opening Foreign Currency Account with a Bank Abroad/Acquisition of Immovable Property Abroad 32:40 Family Member – Clubbing 34:09 Overseas Direct Investment under LRS 45:18 Extending Loan to Relative Abroad 50:11 Remittances to International Financial Service Centre (IFSC) 51:15 Procedure to Remittance 51:38 TCS on Foreign Remittances 54:50 Q&A Session 01:06:15 Case Studies