1. Gift to a Close Relative (NRI/PIO)

A resident individual can gift to a Close Relative who is an NRI (Non-Resident Indian) or PIO (Person of Indian Origin) under the following conditions:

• ✅ The gift should be made through a crossed cheque or electronic transfer.
• ✅ The gifted amount must be credited to the recipient’s NRO account (Non-Resident Ordinary Rupee Account).
• ✅ The total gift amount must be within the overall LRS limit of USD 250,000 per financial year.
• ✅ It is the donor’s responsibility to ensure compliance with the LRS limit.

Close Relative is as defined under the Companies Act, 2013 and includes relatives such as spouse, parents, siblings, children, etc.

2. Gift to a Person Residing Outside India (Non-Relative/Relative)

A resident individual can gift to any person residing outside India, whether a relative or non-relative, subject to the following:

• ✅ The gift must be made in foreign currency.
• ✅ The total gift amount must be within the overall LRS limit of USD 250,000 per financial year.
• ✅ The gift can be made to a non-relative as well