Form a-2, for foreign remittance.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 October 2011 Hi All,

Can someone kindly tell me if Form A-2 is required to be filled for purchase of foreign currency to be give to employees for onsite travel.

Also is the limit for individual transaction restricted to $10000/- per financial year.

Regards.

Vishal D Shah

Vishal D Shah (Expert)
Follow

27 October 2011 Yes. Form A2 is required.
Limit of $10000/- is for private visit abroad. For business visits limit is $25000.

Querist : Anonymous

Querist : Anonymous (Querist)

27 October 2011 Hi Vishal,

This is official visit by employee's going onsite.

Since we purchase currency from T.T.Forex in India and handover the same to the employee both in currency and recharge card will form A2 be applicable.

It is not direct remittance outside India.

Regards,

Vishal D Shah

Vishal D Shah (Expert)
Follow

27 October 2011 Ideally yes. Authorised dealer shall tell you to submit form A2.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

27 October 2011 Hi Vishal,

T.T.Forex have not asked to submit Form A2 so far.

Can you please advice.

Thanks in advance.

Regards,