I want to repatriate 5 lac rs to my son abroad. Do in need CA certficate for the same . Please also let me know whether DSC is must for 15CA certificate or i can fill without DSC also.
23 June 2016
you can send easily upto 250000$ per year
Liberalised Remittance Scheme (LRS) of USD 2,50,000
“ Under the Liberalised Remittance Scheme, all students who are resident Indians, including minors, are allowed to freely remit up to USD 2,50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both. Further, resident individuals can avail of foreign exchange facility for the purposes mentioned in Para 1 of Schedule III of FEM (CAT) Amendment Rules 2015, within the limit of USD 2,50,000 only. “
23 June 2016
From the last years budget it has been mandated to file form 15CA & CB for the payments made outside of India. It is with the intention to get the certification that the tax as applicable on the outward remittance has been deducted by the Payer. some private bank may not ask for form 15ca& 15cb for sending money to your son. but many nationalized banks are asking for this form. and yes for getting the form 15ca online from income tax department you need to file the form online and DSC is required in that case.
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