Severe Clamp on Liberalised Remittance Scheme !No More Buying Property Aborad by Residents !


With effect from 14th August 2013, Reserve Bank of India has clamped a total no no on the use of Liberlised Remittance Scheme (LRS ) for buying  resident individuals. So , if a resident individual was thinking to buy property outside using the LRS and claiming capital gains exemption u/s 54 or 54F , it will be…

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