BFM: Concepts and Practice · Part A: International Banking

Chapter 2: LRS and remittances

What a resident may send abroad, on which papers, with what tax, and how money comes in.

Buyers of the e-book, or of the print copy, which includes it, read the whole chapter. Everyone can read the free sample, pages 1 to 24 of the e-book.

In this chapter

• 2.1Current and capital accountp. 19
• 2.2The Liberalised Remittance Schemep. 20
• 2.3Making an LRS remittancep. 21
• 2.4TCS and reportingp. 22
• 2.5Other remittance facilitiesp. 23
• Exam traps and quick checksp. 24
• Practice: 16 questions in three roundsp. 25
• Answers, with every wrong option explainedp. 27
• Make it stickp. 29
• Chapter 2 on one pagep. 30

Corrections and updates

None for this chapter so far. Every correction to the book, and any rule that changes after its date, is listed on the errata page.