Send Money to USA from India

Under RBI's Liberalised Remittance Scheme (LRS), resident individuals can remit up to USD 250,000 per financial year, which runs from April 1 to March 31. This limit applies across all LRS purposes combined, not per purpose separately. If you have already used a portion of the limit for travel or another remittance during the year, the remaining balance counts toward your USD transfer to the USA as well.

SWIFT transfers to US bank accounts are typically credited within 12 to 48 business hours. The exact time depends on the recipient bank's processing speed, whether any intermediary banks are involved, and whether the transfer triggers any compliance checks. We recommend initiating the transfer at least 2 to 3 business days before a payment deadline, especially for tuition fee payments where universities have strict cut-off dates.

You need a valid passport, your PAN card, and a completed Form A2 declaration (we help you fill this). Beyond that, the documents depend on the purpose. For education: the university admission or offer letter and a fee invoice or I-20 form. For family maintenance: a simple declaration of relationship. For medical expenses: a hospital invoice or doctor's letter. For gifts: a self-declaration is usually sufficient.

TCS stands for Tax Collected at Source. From April 2026, if your total LRS remittances in a financial year exceed Rs. 10 lakh, TCS is collected at the point of transfer. The rate is 2% for education remittances sent directly to a recognised foreign institution, and 5% for all other purposes such as family maintenance or gifts. TCS is not an additional tax you lose. It is credited against your income tax liability and can be claimed as a refund when you file your returns.

Form A2 is a mandatory RBI declaration required for all outward remittances made under LRS. It captures your identity details, the recipient's details, the amount being transferred, the currency, and the purpose of remittance. You sign a self-declaration confirming that the transfer is within the LRS annual limit. We help you fill this form at our branch for every transaction. It takes about 5 minutes.

Yes. LRS permits capital account transactions including investment in overseas property, US equities and mutual funds, and deposits in foreign bank accounts. The same USD 250,000 annual cap applies across all purposes. Note that income earned from such investments, including dividends or rental income, may have tax obligations in India. We handle the remittance side. For tax implications specific to your situation, consulting a chartered accountant is advisable.