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.
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