27-Oct-2026 21:13:32
RBI Proposes Tighter Overseas Money Transfers; NRI Tax Relief Also on the Table
The RBI has proposed tighter controls on money flowing out of India’s capital account, with such outflows potentially requiring prior approval. It has also suggested limiting non-essential current-account remittances to ₹50 lakh, while exempting education and healthcare expenses. Separately, sources told Zee Business that NRI investors could receive an LTCG tax exemption or a lower rate, while tax benefits for sovereign wealth and pension funds may be extended until 2047. These are proposals, not confirmed policy changes. Source - Zee Biz