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    Question

    Under the Liberalised Remittance Scheme (LRS), Indians

    are allowed to remit up to USD 250,000 per financial year. Who among the following is eligible to make remittances under LRS?
    A Hindu Undivided Families (HUFs) Correct Answer Incorrect Answer
    B Partnership firms Correct Answer Incorrect Answer
    C Individuals Correct Answer Incorrect Answer
    D Corporate entities Correct Answer Incorrect Answer
    E Trusts Correct Answer Incorrect Answer

    Solution

    The Liberalised Remittance Scheme (LRS) is applicable only to resident individuals, including minors. Other entities like HUFs, firms, and corporates are not eligible.

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