Send Money Abroad
Outward Remittance from Chennai — Send Money Abroad Safely
Outward remittance is the regulated way to send money overseas from India for tuition fees, university living expenses, medical treatment, family maintenance or gifts. B2B Holidays handles the LRS paperwork, A2 declaration, TCS calculation and SWIFT transfer so funds reach the beneficiary account correctly the first time.
- LRS limit
- $250,000 / yr
- Credit time
- 1–3 days
- TCS handled
- End to end
- Transfer
- SWIFT tracked
- University tuition paid directly to the institution's account
- Student living-expense and family maintenance transfers
- Medical treatment and emergency remittances prioritised
- Form A2, LRS declaration and Form 15CA/CB guidance included
Permitted purposes under the LRS
The Liberalised Remittance Scheme allows a resident individual — including minors, with a guardian's counter-signature — to remit up to USD 250,000 per financial year across these current and capital account purposes.
- Overseas education: tuition, hostel and university fees
- Maintenance of close relatives living abroad
- Medical treatment and accompanying attendant expenses
- Emigration and employment-related transfers
- Private and business travel expenses
- Gifts, donations and permitted overseas investments
Documents and compliance checklist
Getting the documentation right the first time is what keeps a transfer from being held by the correspondent bank.
| Document | Why it is needed |
|---|---|
| PAN card | Mandatory for every LRS remittance |
| Passport copy | Identity of the remitter |
| Form A2 + LRS declaration | Purpose code and annual limit tracking |
| University invoice / offer letter | Proof of purpose for education transfers |
| Beneficiary bank details + SWIFT/IBAN | Correct routing of the funds |
| Source of funds proof | Bank statement or ITR, as required |
TCS on foreign remittance — what you will actually pay
Tax Collected at Source applies above the annual threshold and varies by purpose. Education funded by an approved loan attracts a concessional rate, self-funded education a moderate one, and other purposes such as gifts and travel the standard rate. TCS is not a cost — it is credited against your income tax and can be claimed in your return. We compute the exact figure for your purpose code before you transfer.
How the transfer works, step by step
Most education and family transfers from Chennai credit within one to three working days.
- Share purpose, amount, currency and beneficiary details
- Receive a locked all-in rate including charges and TCS
- Sign Form A2 and the LRS declaration, submit KYC
- Fund the transfer from your own resident bank account
- SWIFT message released, reference number shared with you
- Credit confirmation and receipt for your records
Frequently asked questions
How much money can I send abroad from India in a year?
Up to USD 250,000 per financial year per individual under the RBI Liberalised Remittance Scheme, across all permitted purposes combined. A family of four can therefore remit up to USD 1,000,000 using each member's separate limit.
How long does an outward remittance from Chennai take?
One to three working days for major corridors such as the US, UK, Canada, Australia and the Eurozone. Transfers initiated before the afternoon cut-off usually go out the same day.
What is TCS on outward remittance and can I get it back?
TCS is tax collected at source at the time of remittance, above the annual threshold and at rates that depend on the purpose. It is not an extra cost — it appears in your Form 26AS and is adjusted against your income tax liability or refunded when you file your return.
Can I pay my child's university fees directly?
Yes, and it is the preferred route. We remit directly to the university's account quoting the student ID and invoice number, which keeps the education purpose code clean and avoids a second transfer.
Do I need Form 15CA and 15CB?
15CA is required for most remittances, and 15CB — a chartered accountant's certificate — for certain taxable transfers above the prescribed limit. We tell you which applies to your purpose code and coordinate the paperwork.