Under the Liberalised Remittance Scheme (LRS) of RBI, an individual can remit abroad up to:
Answer & Solution
Correct answer: B.
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_