News From Press How to use your tax-free foreign remittance limit of Rs 10 lakh wisely in FY26?

How to use your tax-free foreign remittance limit of Rs 10 lakh wisely in FY26?

Source: Financial Express Apr 4, 2025

In the February 2025 budget, Finance Minister Nirmala Sitharaman increased the TCS-free limit under the Liberalised Remittance Scheme (LRS) from Rs 7 lakh to Rs 10 lakh. This means that you can now send up to Rs 10 lakh abroad without any additional tax.

This is especially a relief for those who spend a limited amount on international expenses in a year and do not want to get into the hassle of tax again and again.

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