Here are some key learnings from this chapter:

1. LRS enables global investing: India’s Liberalised Remittance Scheme (LRS) allows resident individuals to send money abroad for investments, travel, education, and other permitted purposes.

2. Annual limit: USD 250,000 per person: Each resident individual can remit up to USD 250,000 per financial year, and the limit resets every year. It applies per individual, not per household. 
3. All remittances share the same limit pool: Investments, travel, education, and gifts all draw from the same USD 250,000 annual limit, not separate buckets. 
4. Banks track remittances through purpose codes: Every outward remittance must be tagged with an RBI purpose code (for example, S0001 for foreign equity investment), which helps regulators track why money is leaving India. 
5. TCS may apply after ₹10 lakh remittance. When total outward remittances exceed ₹10 lakh in a financial year, banks collect Tax Collected at Source (TCS) on the excess amount. This is not an extra tax but an advance tax adjustable during filing.