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Union Budget 2025: Wealthtech startups to benefit from taxable LRS threshold push to Rs 10 lakh

February 1, 2025

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Union Budget 2025: Wealthtech startups to benefit from taxable LRS threshold push to Rs 10 lakh

Wealthtech startups which offer investments in international stocks are hoping to see a boost to their customer base with the Union government relaxing the tax credit at source (TCS) on international fund transfers up to Rs 10 lakh.

Till now, any transfer beyond Rs 7 lakh under the central bank’s Liberalised Remittance Scheme (LRS), attracted a tax outgo of 0.5%. This had an impact on Indians booking foreign tours from home and those who invested in international stocks from India.

Platforms which might benefit out of this are Vested Finance, IndMoney and such which are offering investment options to investors buying international stocks.

Also Read: Union Budget 2025: Government proposes 100% FDI in insurance sector

“This is a smart move and helps simplify tax compliance for individuals. These changes not only make it easier for students and families managing educational expenses abroad but also offer greater flexibility for investors diversifying into US stocks,” said Nikhil Behl, chief executive officer for stocks at IndMoney.

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This sector was badly impacted with many consumers moving away from buying US stocks after the government had introduced the TCS a couple of years back. With the limit at Rs 7 lakh, some of the investors had started trickling back to the sector and now with the Rs 10 lakh threshold the participation could go up, industry insiders said.