LRS and Freelancer Foreign Income

The Liberalised Remittance Scheme (LRS) governs how much Indian residents can remit out of India per financial year (investments, education abroad, etc.). It does not cap legitimate inbound receipts for export of services.

Freelancer inbound payments

Foreign client payments for services are generally treated as export receipts, subject to FEMA and RBI rules on export realization — not LRS limits.

Tax on foreign income

Foreign income is typically taxable in India for residents. Maintain FIRA/remittance records and consult your CA on advance tax and ITR filing.