Liberalised Remittance Scheme compliance required for outward remittances, with Form A2 declarations and authorised dealer certification. Form A2 is the statutory application and declaration for drawal of foreign exchange under FEMA, requiring applicant identification, remittance mode ... Summary
Liberalised Remittance Scheme compliance required for outward remittances, with Form A2 declarations and authorised dealer certification.
Form A2 is the statutory application and declaration for drawal of foreign exchange under FEMA, requiring applicant identification, remittance mode (draft, direct bank transfer, traveller's cheques or currency), and selection of an appropriate purpose code. Remitters under the Liberalised Remittance Scheme must declare compliance with LRS limits and source of funds. The Authorised Dealer must certify eligibility, conformity with Reserve Bank instructions, record AD particulars, and stamp and sign the form for processing and reporting.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.