Under the Liberalised Remittance Scheme (LRS) of RBI, an individual can remit abroad up to:
AUSD 50,000 per FY
BUSD 2,50,000 per FY
CUSD 1,00,000 per FY
DUSD 10,00,000 per FY
Answer & Solution
Correct answer: B. USD 2,50,000 per FY
1. LRS allows resident individuals to remit up to USD 250,000 per financial year for permissible current or capital account transactions.
2. Limit is composite (covers all permissible categories).
3. Hence (C).
_Source: ICAI BoS CA Inter Paper 2 — FEMA 1999_