Explain and justify the following cases of 'Resident Individuals' under Foreign Exchange and Management Act, 1999 : (ii) Deepa, a young girl aged 22 years, wishes to go to Poland for a private visit and she wishes to obt

Under Liberalised Remittance Scheme, for private visits abroad, other than to Nepal and Bhutan, any resident Individual can obtain foreign exchange up to aggregate amount of USD 2,50,000 from an Authorized Dealer (AD) or FFMC, in any one financial year, irrespective of the number of visits undertaken during the year. Further, all tour related expenses including cost of rail/road/ water transportation: cost of Euro rail: passes / tickets, etc. outside India and overseas hotel/ lodging expenses shall be subsumed under the LRS limit. The tour operator can collect this amount either in Indian Rupees or in Foreign Currency for the resident traveller. Hence, Deepa cannot obtain a sum of USD 275,000 from any Authorized Dealer (AD) or FFMC in any one FY (April- March). She can obtain only a sum of USD 2,50,000.